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social security tax
FICA, the abbreviation for Federal Insurance Contribution Act, also known as Social Security. Social Security is also known as Old-Age and Survivors Insurance (OASI), although retirement and survivors' benefits are only a portion of the SSA's obligations.
You will receive all of his social security.
The US Constitution outlines each branch of government and their responsibilities. Article 1 is the portion of the Constitution that establishes the legislative department.
FICA, the abbreviation for Federal Insurance Contribution Act, also known as Social Security. Social Security is also known as Old-Age and Survivors Insurance (OASI), although retirement and survivors' benefits are only a portion of the SSA's obligations.
The Chairman of Senate Armed Services Committee is head of the committee hat supervises expenditures of the department of government with the largest budget. National defense funding makes up the largest portion of federal spending.
During your working life, you pay Medicare tax out of your paycheck. That tax pays for your Part A Medicare, which is the hospitalization portion of Medicare. Then when you enroll in Medicare, you can purchase Medicare Part B which is the medical/doctor's office portion of Medicare. When you purchase Part B, it is automatically deducted from your Social Security check each month. This amount will normally be $96.40(for 2009) unless you make more than $85,000.00 per year, then you will pay more for the monthly premium.
The largest portion of the federal government's budget is spent on national defense. The defense of the nation is very important because it is what spurs national growth.
In 2009, more money (23%) was spent on defense than any other outlay. However, outlays for social security and for Medicare/Medicaid were close behind. In all likelihood, the trend will reverse in 2011 with social security being the largest outlay.
In most places, the taxation is based on your total income, not just the portion from social security.
The federal law which requires employers to withhold a portion of employee wages and pay them to the government trust fund which provides retirement benefits. An acronym for Federal Insurance Contributions Act. More commonly known as social security.