This claim is untrue. The maximum base for the Medicare tax is different from the maximum base for the Social Security tax.
In short, Medicare offers hospital and medical insurance to assist in paying for medical expenses. When you retire or become unable to work because of certain circumstances or conditions, Social Security offers you a source of income.
If you work for an employer, up to $147,000 of your wages are subject to a 6.2% Social Security tax on both your employer's and your behalf. Additionally, each must pay a Medicare tax of 1.45% on all income. If you work for yourself, you must pay both employer and employee taxes.
The Social Security and Medicare tax rates are currently 6.2% and 1.45% for each of them, respectively. Therefore, for a total FICA contribution of 15.3%, the employer and employee each contribute 7.65% of their income. You can multiply your gross pay by 7.65% to determine how much FICA tax you must pay.
Learn more about Social Security tax: https://brainly.com/question/18268724
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