Spider Meaning. Spider spirit animal is the enchantress of creativity and artistic expression, she weaves a magical spell as she infuses her dreams into the web she weaves. In ritual she builds her web is creative expression and expectation of all she needs and desires.
Social Security tax is one part of the Federal Insurance Contribution Act (FICA) tax, and it is assessed at a rate of 12.4%. This is split evenly between the employee and employer, and it applies to earned income up to $118,500 for 2016 -- resulting in a maximum Social Security tax of $14,694. The remainder of FICA tax goes to Medicare.
What is FICA? FICA refers to the Federal Insurance Contributions Act which mandates employers withhold a certain percentage of their employees' salaries each pay period. FICA is the result of the Social Security Act passed by President Franklin D. Roosevelt in 1935. Congress passed the Federal Insurance Contributions Act in 1935, mandating employers to withhold a set portion of employees' salary in each pay period.