The Russian president takes the crown from U.S. President Barack Obama, who has been on top every time except 2010, when Chinese president Hu Jintao briefly took his place. Let's begin by saying this: The list is right, Putin is clearly the most powerful person in the world right now. However, the Forbes list shouldn't be a shock â it's correcting itself.
MEDI is the Medicare tax withheld for contributions to the social insurance system better known as Medicare insurance. It is calculated at 1.45% of gross wages minus pre-tax deductions such as family medical and dental premiums. There is no limit on wages on which the tax is calculated. more.
Limits on Social Security Withholding The current Social Security withholding tax rate is 6.2 percent. Employers are required to withhold 6.2 percent, and to pay an additional and matching 6.2 percent, on all income amounts up to $106,800. Therefore, Social Security taxes must be withheld, from an employee's paycheck, until the amount withheld reaches the $6621.60. This is the amount that employees must pay into the system, and also the amount that employers must make in matching contributions.