Employees in 2012 paid 4.2% of their gross wages towards social security (FICA tax), while employers paid another 6.2%. How much will someone earning $45,000 a year pay towards social security out of their gross wages?
4.2% means=4.2/100=.042
.042 X $45,000=$1,890.00 employees contribution to social security.
The employer contribution is NOT considered here because they pay from their own treasury.
