Instead of paying 4.2% for Social Security, you are now paying 6.2% of your pay to the SS ponzi scheme. If you are under 55, you'll likely never see a dime of any of your contributions. You'd have been better off if you had put that money in a savings account than given it to the government to hold for you.
Don't believe me? Look it up.
If you make $50K a year, you just lost 83.33 bucks a month. That's a lot of ammo. Or beer. Or food. Or a good chunk of a car payment.
But the government will spend it more wisely than you would have.