How much will you pay for the traditional social security, Financial Management

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How much will you pay for the traditional social security

1. If you earn $60,000 in 2017, how much in total will be paid into the Social Security system? _________________

2. Assume you earn $140,000 in 2017.

a. How much will YOU pay for the traditional Social Security tax? ________________

b. How much will you pay for the Medicare tax? _________________

c. How much will your employer pay in total on behalf of this income for both parts of the Social Security tax? _______________

d. How much in TOTAL is paid into the entire Social Security system on behalf of this income? ________________

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Financial Management: How much will you pay for the traditional social security

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