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.
This is not so with the Social Security tax. It cannot be adjusted in any way. The government has set a fixed amount that needs to be paid and if it isnât paid, heavy penalties will be imposed. Current Social Security Rate. The current rate of Social Security withholding is set at 12.4 percent. The full amount of the tax is divided equally between the employer and employee with each contributing 6.2 percent. The Medicare Tax rate is set at 2.9 percent and again is equally divided between employer and employee.