SESKStuff Everyone Should Know
SESK: Stuff Everyone Should Know · sesk.info/teen-fica-what-pays-for

FICA taxes on your paycheck fund which two programs?

FICA = Social Security and Medicare.

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  1. Medicare and unemployment pay
  2. Social Security and Medicare ✔
  3. Social Security and student aid

Why: FICA stands for the Federal Insurance Contributions Act. Its taxes are the Social Security tax and the Medicare tax, and both come out of most paychecks.

Huh, didn't know that: Only the Social Security tax has a wage base limit. Medicare tax applies to all covered wages.

The dad joke
Income tax is Uncle Sam's version of "Truth or Consequences."
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References

Answer: Social Security and Medicare. FICA stands for the Federal Insurance Contributions Act. Its taxes are the Social Security tax and the Medicare tax, and both come out of most paychecks.

  1. IRS Tax Topic 751: Social Security and Medicare withholding rates www.irs.gov/taxtopics/tc751
    also known as Social Security taxes, and the hospital insurance taxes, also known as Medicare taxes
    Checked 2026-10-10.

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