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.
If you are an employee, your payroll taxes are shared by you and your employer. Your Social Security tax rate is 6.2% (4.2% for 2011 and 2012) and your Medicare tax rate is 1.45% if your income is below $200,000 (single) or $250,000 (married and filed jointly).