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.
On the other hand, let's say that you're an executive who earns $250,000. Since this is more than the maximum amount of earnings, you'll only pay Social Security tax on the first $127,200, which translates to $7,886.40. This is the highest possible Social Security tax for 2017, if you work for an employer.