Key Points Workers pay Social Security tax on their income. Some workers only pay taxes on part of what they earn. In 2026, Social Security taxes are going up for certain workers. The $23,760 Social Security bonus most retirees completely overlook › Social Security benefits are funded by taxes collected from workers. As you work and earn income, you pay taxes into the system. The income you earn and the taxes that you pay earn you work credits, and if you earn at least 40 work credits, then you q ...