This tax payer pays _________________________________ in Medicare taxes with a Medicare MTR of ______ and a Medicare ATR of ___________________. The Medicare tax paid by this tax payer is _________________________ because (justify the tax system that applies) _________________________

2. How much would a single person whose taxable income is $150,000 have to pay in federal income, Social Security and Medicare taxes? Use the following tax rate schedule and remember that the Social Security tax rate is 6.2% up to an income limit of $142,800 while the Medicare tax rate is 1.45% on all income earned: Tax brackets Income taxed MTR Taxes paid 0 9,875 10% 9,875 40,125 12% 40,125 85,525 22% 85,525 163,300 24% Total: 2. How much would a single person whose taxable income is $150,000 have to pay in federal income, Social Security and Medicare taxes? Use the following tax rate schedule and remember that the Social Security tax rate is 6.2% up to an income limit of $142,800 while the Medicare tax rate is 1.45% on all income earned: Tax brackets Income taxed MTR Taxes paid 0 9,875 10% 9,875 40,125 12% 40,125 85,525 22% 85,525 163,300 24% Total