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the social security tax rate is 6.2% and is paid on the first $97,500 of income. the medicare tax rate is 1.45% and applies to

the social security tax rate is 6.2% and is paid on the first $97,500 of income. the medicare tax rate is 1.45% and applies to all your earnings. john bob makes $350,000 each year as a product designer. what is his total monthly deduction for social security and medicare

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