The Social Security Tax is a payroll tax that funds the Social Security program in the United States. This tax is collected from both employees and employers, with a portion of an employee's earnings withheld to contribute to the program. The funds collected help provide benefits to retirees, disabled individuals, and survivors of deceased workers. The current rate for the Social Security Tax is 6.2% for employees and 6.2% for employers, applied to earnings up to a certain limit, known as the wage base limit. This system ensures that workers contribute to their future benefits while also supporting current beneficiaries.