how much money do they take out of your paycheck for social security and medicare?

Question

(in what percet?)

Answer 1

6.2% Social Security
1.45% Medicare

The social security withholding stops at $97,500 this year but the medicare goes on......forever.

Answer 2

I wondered the same thing? I have a odd friend who refuses to pay his and he works for a goverment contracted AC company on a military base. Go Figure... I thought being paid with taxpayer money he would be the first to be arrested. But he is going on a good 12 years. I heard that Medicare was a savings plan mede up by the vanderbilts and the really was no law saying you have to have it taken from your paycheck. If it is really true or not I couldn't tell you. but ti would be nice

Answer 3

I believe the rates are 6.2% for social security and 1.45% for medicare. Your employer should match this total 7.65%.