Short Answer
Sonny Siebert earned $485,000 a year as a rookie pitcher for the Cleveland Indians. Assuming a tax rate of 6.2% for Social Security up to $128,400 and Medicare tax of 1.45%, how much did Sonny pay in FICA taxes as a rookie pitcher?
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.062 × 128,400 = 7,960.80; .01...View Answer
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