Rodney Whitaker earns $123,720 annually and is paid monthly. How much Social Security tax will be deducted from his December earnings? How much Medicare tax will be deducted from his December eamnings? The Social Security tax rate was 6.2% of wages up to a maximum annual wage of 5118.500. The Medicare tax rate was 1.45% of wages up to a8 maximum annual wage of 5200,000. el The Social Security tax is ED for his December earnings. (Round to the nearest cent as needed.)