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Which of the following statements regarding Social Security taxes is correct? a. A worker who earned $98,980 in 2010 paid taxes at a rate of
Which of the following statements regarding Social Security taxes is correct? a. A worker who earned $98,980 in 2010 paid taxes at a rate of 6.2 percent of all gross compensation. b. The Social Security and Medicare rates were 6.2 % of all gross income, up to $108,600, and 1.45 % of all gross income, respectively. c. Once a worker has earned $108,600, payroll withholding is terminated until the following year. d. The 2010 rate was 1.45 percent of all gross compensation
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