TEACHER TIP: Some figures in this video are out of date (like the US government’s total revenue and the age at which you can qualify for Medicare). However, the general message of what is withheld from your paycheck, what that money pays for, and what we receive in return is still very relevant.
VIDEO: If Paychecks Could Talk
9 min
Some people are surprised when they get their paycheck and the amount of money they receive is lower than they expected. This is often because they don’t know about things like state taxes, federal taxes, and the Federal Insurance Contributions Act (FICA). Watch the video to learn more about the withholdings from your paycheck. Then, answer the questions.