Question

The employee share of Social Security tax is 7.65% on wages of up to $137,700.

(Express your answer to the nearest cent. Round your answer as necessary)

If you earn a salary of $130,000 from your current employer, how much Social Security tax do you pay? $

If you are offered a new job at a salary of $140,000, how much more Social Security tax will you pay? $

If you are offered a new job at a salary of $150,000, how much of your increase will you net after you pay Social Security tax? $