social security tax
noun[CorU]
GOVERNMENT,FINANCE,TAXUSukusmoneycollectedfromemployersandemployeesby thegovernmenttopaypeoplewhen theyretireor because they areill,unemployed, etc.:
Thecurrentrateofsocialsecuritytaxis 12.4%.
Currently thegovernmentreceivesenough insocialsecuritytaxesonworkersandcompaniestopayitspensionbill.
Compare
national insurance