In 2013, a worker who earned $125,000 would have _____ in Social Security taxes taken out of

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In 2013, a worker who earned $125,000 would have _____ in Social Security taxes taken out of his or her pay and _____ would also be paid by the employer.

a. $17,396; $17,396 (both equal to $113,700*.153)

b. $8,860.45; $8,860.45 (both equal to $113,700*.0765+.0145*$11,300)

c. $8,470.65; $8,470.65 (both equal to $113,700*.0765)

d. $9,562.50; $9,562.50 (both equal to $125,000*.0765)

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Issues in Economics Today

ISBN: 978-1259746390

8th edition

Authors: Robert C. Guell

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Question Posted: Apr 24, 2018 02:56 AM

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In 2013, a worker who earned $125,000 would have _____ in Social Security taxes taken out of

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c 847065 847065 both equal to 1137000765 Explanation Taxes are paid only up to a limited amoun...View the full answer

Issues in Economics Today

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