how much of my paycheck goes to social security
15.3%. Does that seem a little high? If you check your paycheck, the amount of money that is actually deducted from your paycheck for Social Security and Medicare is only 7.65%. Employers, however, pay an equal amount of taxes on your behalf (i.e., an additional 7.65%). Previous studies have indicated that all taxes employers pay on employees behalf is funded through lower employee earnings. In other words, if the employer didnât have to pay these taxes, your salary would be 7.65% higher.