Question: The Social Security Administration Increased the taxable wage base from $127,200 to $128,400. The 6.2% tax rate is unchanged. Joe Burns earned over $130,900 each

The Social Security Administration Increased the taxable wage base from $127,200

The Social Security Administration Increased the taxable wage base from $127,200 to $128,400. The 6.2% tax rate is unchanged. Joe Burns earned over $130,900 each of the past two years. a. What is the percent increase in the base? (Round your answer to the nearest hundredth percent.) Percent increase b. What is Joe's Increase in Social Security tax for the new year? (Round your answer to the nearest cent.) Increase in social security tax

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