SOLUTION: Suppose you make $3000.00 per month. You pay a Social Security tax at a rate of 6.2% and Medicare tax at a rate of 1.45%. If you employer must pay what you pay in Social Security
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Question 1124152: Suppose you make $3000.00 per month. You pay a Social Security tax at a rate of 6.2% and Medicare tax at a rate of 1.45%. If you employer must pay what you pay in Social Security taxes and Medicare taxes dollar for dollar, what is the total amount paid to the government for these two taxes? Answer by Theo(13342) (Show Source):
You can put this solution on YOUR website! you make $3,000 per month.
social security is 6.2% and medicate is 1.45%.
your employer pays the same.
the combined rate paid by you and your employer is 12.4% and 2.9%.
the total tax is 15.3%.
15.3% of 3000 is .153 * 3000 = $459 per month paid to the government for social security and medicare.
