Advertisement
Canada markets open in 5 hours 6 minutes
  • S&P/TSX

    21,728.55
    +14.01 (+0.06%)
     
  • S&P 500

    5,018.39
    -17.30 (-0.34%)
     
  • DOW

    37,903.29
    +87.37 (+0.23%)
     
  • CAD/USD

    0.7292
    +0.0011 (+0.15%)
     
  • CRUDE OIL

    79.72
    +0.72 (+0.91%)
     
  • Bitcoin CAD

    79,129.40
    +1,565.00 (+2.02%)
     
  • CMC Crypto 200

    1,266.07
    -4.67 (-0.37%)
     
  • GOLD FUTURES

    2,317.10
    +6.10 (+0.26%)
     
  • RUSSELL 2000

    1,980.23
    +6.32 (+0.32%)
     
  • 10-Yr Bond

    4.5950
    -0.0910 (-1.94%)
     
  • NASDAQ futures

    17,583.75
    +145.50 (+0.83%)
     
  • VOLATILITY

    14.96
    -0.43 (-2.80%)
     
  • FTSE

    8,169.04
    +47.80 (+0.59%)
     
  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     
  • CAD/EUR

    0.6807
    +0.0014 (+0.21%)
     

The Medicare Tax Simply Explained

When it comes to funding health programs, the federal government aims to help the public with various expenses. Medicare receives the second largest allocation of taxpayer dollars right after Social Security. At least 15 percent of people in the U.S. rely on the services that the Medicare tax ends up paying for. So what is Medicare tax?