Facts about Social Security


Confusingly, there are two distinct programs that are commonly considered part of Social Security: Although it is commonly said that Social Security taxes provide funding for Social Security payments, there is no more connection between Social Security taxes and Social Security payments than there is between Social Security taxes and any other government expenditures, say, national defense. Furthermore, to the extent that one can say that Social Security taxes fund Social Security payments, one could just as well say that income taxes fund Social Security payments. Social Security taxes, like income taxes, are just one of the ways the government raises money; Social Security payments, like national defense, are just one of the ways the government spends money.

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This page maintained by Steven Blatt. Suggestions, comments, questions, and corrections are welcome.