In 2011 , the Social Security tax rate was lowered to 4.2% to help stimulate...
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In 2011 , the Social Security tax rate was lowered to 4.2% to help stimulate the economy. The government figured that if people paid less taxes they would have more money to buy goods and services. How much did a worker who earned $28,900 in 2011 save on FICA taxes with this reduction? $ Question 7 1 pts In a year when the maximum income for Social Security was $118,500, Bart worked at two jobs. In one job he earned $99,112. In his second job, he earned $56,222. Both of his employers took out Social Security tax. As a result, Bart had paid excess Social Security tax, and the government must return some of it to him. How much does the government owe him for excess Social Security paid
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