The Social Security Administration increased the taxable wage base from $127,200 to $128,400. The 6.2% tax rate
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Question:
The Social Security Administration increased the taxable wage base from $127,200 to $128,400. The 6.2% tax rate is unchanged. Joe Burns earned over $129,500 each of the past two years. a. What is the percent increase in the base?
b. What is Joe's increase in Social Security tax for the new year?
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