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2. Frank earns $147,400 in 2021. Social Security taxes are 6.2% up to $142,800 of income and Medicare taxes are 1.45% with no income limit.

2. Frank earns $147,400 in 2021. Social Security taxes are 6.2% up to $142,800 of income and Medicare taxes are 1.45% with no income limit. Calculate Frank's Social Security and Medicare taxes. What are these taxes used for

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