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Assets in the Social Security trust funds have only been raided by the federal government one time. During the recovery from the Great Recession, there was a 2 percentage-point reduction in payroll taxes in 2011 and again in 2012.
Instead of paying 6.2 percent of their wages in payroll taxes, workers paid only 4.2 percent. This reduction put more money in worker paychecks but, of course, reduced the money flowing into Social Security to help pay benefits. Congress later restored these funds to the system.
