Question

The total social security tax rate is __________half of which is paid by the employer and half by the employee (or all paid by the self-employed individual).

a.
12.40%

b.
15.30%

c.
7.65%

d.
6.20%

Answer 1

Answer: a. 12.40%

Step-by-step explanation:

This rate is split evenly between the employer and the employee, with each paying 6.2%. For self-employed individuals, they are responsible for the entire 12.4%.