Calculating Social Security and Medicare Taxes Assume a Social Security tax rate of 6.2% is applied to maximum earnings of $128,400 and a Medicare tax rate of 1.45% is applied to all earnings. Calculate the Social Security and Medicare taxes for the following situations: If required, round your answers to the nearest cent. Cumul. Pay Amount Amount Before Current Current Year-to-Date Soc. Sec Over Max. Subject to Soc. Sec. Tax Weekly Payroll Gross Pay Earnings Maximum Soc. Sec Soc. Sec Withheld Medic Tax with $ 22,000 $1,700 $128,400 54,000 4,200 128,400 125,800 3,925 128,400 127,800 4,600 128,400