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.
The employee tax rate for social security is 6.2%. The employer tax rate for social security is also 6.2% (12.4% total). The Social Security portion of the tax is capped each year at a maximum wages subject to Social Security. The employee tax rate for Medicare is 1.45% (amount withheld). The employer tax rate for Medicare tax is also 1.45% (2.9% total).