Rhyme Awareness Rhyme awareness is the understanding that certain word endings sound alike, and therefore contain the same sounds, such as the short /a/ and /p/ sounds in cap and map or the long /i/ and /t/ combination in fight and kite.
Most high-income retirees will have 85% of Social Security benefits taxable. For lower-income retirees, less than 85% will be taxable, but many retirees in a 12% tax bracket will face a marginal tax rate much higher than 12%. Social security benefits are also taxable in some states (see Figure 1.) For social security taxes imposed on earned wages, see the Social Security article.
Social Security and Medicare. Since this is income from work, you have to pay Social Security and Medicare taxes on it. As of 2015, the Social Security tax rate was 6.2 percent of all wages up to $118,500. That's $7,347. The Medicare tax was 1.45 percent of all wages. On a $1 million salary, that's $14,500.Finally, all wages over $200,000 are subject to the Additional Medicare Tax of 0.9 percent. You have to pay this tax on $800,000 worth of income, which comes out to $7,200. Total tax for Social Security and Medicare: $29,047.s of 2015, the Social Security tax rate was 6.2 percent of all wages up to $118,500. That's $7,347. The Medicare tax was 1.45 percent of all wages. On a $1 million salary, that's $14,500.