Social security tax is 6.2% of the first 113k of income, 0 after that
Medicare is 1.45% for income under 200k, 2.35% for income above 200k.
At no income level do these add up to anything more than 7.7%
http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/240/~/so...
Social security tax is 6.2% of the first 113k of income, 0 after that
Medicare is 1.45% for income under 200k, 2.35% for income above 200k.
At no income level do these add up to anything more than 7.7%
http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/240/~/so...