In 2016, each individual's required contribution to Social Security was

Question

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Each individual's required contribution to Social Security in 2016 was 6.2 percent of his or her first $118,500 of income. This means that up to $7,347 ($118,500 x 6.2%) would be contributed to Social Security by an individual earning at least that amount. A separate Medicare tax of 1.45 percent was also required on all earned income, bringing the total required contribution to 7.65 percent of the first $118,500 of income.

In 2016, Each Individual's Required Contribution to Social Security Was