Social security payments are made up of Social Security taxes and Medicare taxes.

Name: Social security payments are made up of Social Security taxes and Medicare taxes.
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Social Security payments are funded by Social Security taxes, which are 6.2% of an employee's wages up to a certain amount, and Medicare taxes, which are 1.45% of an employee's wages with no maximum limit. Both taxes are typically paid by both employees and employers.

Social Security Payments Are Made Up of Social Security Taxes