Rodney Whitaker earns $121,344 annually and is paid monthly. How much Social Security tax will be deducted from his December eamings? How much Medicare tax will be deducted from his December eamings? The Social Security tax rate was 6.2% of wages up to a maximum annual wage of 3118 500. The Medicare tax rate was 1.45% of wages up to a maximum annual wage of $200,000. The Social Security tax is $ 450 .62 for his December eamings. (Round to the nearest cent as needed.) The Medicare tax is $|:| for his December earnings. (Round to the nearest cent as needed.)