Titanic Facts: The Ship. White Star Line was the company that built the Titanic, and was owned by J.P. Morgan, an American tycoon. The cost to build the RMS Titanic was $7.5 million. RMS stands for Royal Mail Steamer. It took 3,000 men two years to build the Titanic.
Workers and employers pay for Social Security. Workers pay 6.2 percent of their earnings up to a cap, which is $118,500 a year in 2015. (The cap on taxable earnings usually rises each year with average wages.) Employers pay a matching amount for a combined contribution of 12.4 percent of earnings.
Q What is the maximum amount of earnings that will be subject to Social Security taxes in 2017? How does that limit and the tax rate compare with 2016? A The maximum amount of earnings on which you pay Social Security taxes is rising from $118,500 in 2016 to $127,200 in 2017. This is the largest increase in recent years. The limit was also $118,500 in 2015, and it was $117,000 in 2014.