Since most workers don't pay the full Social Security tax themselves, they wouldn't have to bear the full brunt of any future tax increases themselves, either. If the government decided to increase the Social Security tax rate by one percentage point, for example, most workers would only pay half of that increase.

Tax season usually brings a refund check for most workers, but if you're retired, you could wind up owing the IRS.

You may be required to pay taxes on a portion of your Social Security benefits. Here's what you can expect to pay.