What do Social Security taxes primarily pay for?

Social Security taxes primarily fund retirement benefits, which are crucial for individuals who have contributed to the system throughout their working lives. These taxes are collected through payroll deductions and are designed to provide financial support to retirees who may no longer have a regular income.

When workers pay Social Security taxes, they earn credits that count toward their future retirement benefits. Once they reach retirement age, eligible individuals receive monthly benefits based on their earnings history and the amount contributed to the Social Security system over the years.

This mechanism not only helps stabilize the financial situation of retirees but also ensures a basic standard of living for those who may have limited savings or resources after leaving the workforce. While Social Security does have programs related to disability and survivor benefits, the primary focus is on providing assistance to retirees, making this the correct choice in the context of where Social Security taxes predominantly go.