Question: The Social Security Administration increased the taxable wage base from $127400 to $128,400. The 6.2 % tax rate is unchanged. Joe Burns earned over $120,000

The Social Security Administration increased the taxable wage base from $127400 to $128,400. The 6.2 % tax rate is unchanged. Joe Burns earned over $120,000 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? Increase in social security tax

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