Sentences with phrase «security wage limit»

Box 3 is similar to Box 5, except that the income is capped at the Social Security wage limit ($ 97,500 in 2007).

Not exact matches

One would hardly realize that the problem facing U.S. industrial employment is that wage earners must earn enough to pay for the most expensive housing in the world (the FDIC is trying to limit mortgages to absorb just 32 per cent of the borrower's budget), the most expensive medical care and Social Security in the world (12.4 per cent FICA withholding), high personal debt levels owed to banks and rapacious credit - card companies (about 15 per cent) and a tax shift off property and the higher wealth brackets onto labor income and consumer goods (another 15 per cent or so).

Of course it is wise to take security precautions to limit the damage that can be done by terrorists, but a policy of waging war on terrorism is likely to lead the world into an ever deeper quagmire of hostility and global chaos.

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The tax, however, applies only to a limited amount of income each year, which is known as the Social Security wage base.

The Social Security tax has a wage base limit of $ 118,500 for 2015.

For instance, a recent poll from The Senior Citizens League shows that more seniors support raising the taxable maximum wage cap for Social Security from the current $ 118,500 limit over other actions like raising the full retirement age.

Workers generally have social security tax deducted from their wages, up to an annual limit called the social security wage base.

The annual limit on covered wages is called the social security wage base.

The social security wage base limit is $ 110,100.

Social security and Medicare taxes have different rates and only the social security tax has a wage base limit.