The FICA and Medicare percentages for the years 1980, 1990, 2000, and 2010 are shown in the
Question:
The FICA and Medicare percentages for the years 1980, 1990, 2000, and 2010 are shown in the table. Note that in 1980 and 1990, the Social Security percent included the Medicare payments.
a. Calculate the Social Security and Medicare taxes for those years for someone who earned more than the maximum taxable income for each of those years.
b. Find the difference between the total FICA and Medicare taxes for 1980 as compared to 2010 for a salary of $200,000.
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Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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