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Old Age and Survivors Insurance Agency (OASI) - Social Security Tax Rate Tables with Maximum Taxable Earnings
The Social Security contribution and benefit base is the maximum amount of taxable earnings subject to the Social Security tax. There is no comparable maximum for the Medicare program; i.e., all earnings are subject to the Medicare tax. Prior to 1994, however, this was not the case. The maximum amount of taxable earnings for the Medicare program was the same as that for the Social Security program for 1966-90. Separate Medicare taxable maximums of $125,000, $130,200, and $135,000 were applicable to the years 1991-93, respectively.

The Social Security maximum wage amount is calculated and announced each fall by the Social Security Administration based on increases in the national average wage index. Tax rates, however, are set by statute for all years.

Calendar Years Maximum Earnings Subject to Social Security Social Security
Tax Rate
Medicare
Tax Rate
Total FICA
Tax Rate
1937-49
$3,000
1.00%
--
1.00%
1950
$3,000
1.50%
--
1.50%
1951-53
$3,600
1.50%
--
1.50%
1954
$3,600
2.00%
--
2.00%
1955-56
$4,200
2.00%
--
2.00%
1957-58
$4,200
2.25%
--
2.25%
1959
$4,800
2.50%
--
2.50%
1960-61
$4,800
3.00%
--
3.00%
1962
$4,800
3.125%
--
3.125%
1963-65
$4,800
3.625%
--
3.625%
1966
$6,600
3.85%
0.35%
4.20%
1967
$6,600
3.90%
0.50%
4.40%
1968
$7,800
3.80%
0.60%
4.40%
1969-70
$7,800
4.20%
0.60%
4.80%
1971
$7,800
4.60%
0.60%
5.20%
1972
$9,000
4.60%
0.60%
5.20%
1973
$10,800
4.85%
1.00%
5.85%
1974
$13,200
4.95%
0.90%
5.85%
1975
$14,100
4.95%
0.90%
5.85%
1976
$15,300
4.95%
0.90%
5.85%
1977
$16,500
4.95%
0.90%
5.85%
1978
$17,700
5.05%
1.00%
6.05%
1979
$22,900
5.08%
1.05%
6.13%
1980
$25,900
5.08%
1.05%
6.13%
1981
$29,700
5.35%
1.30%
6.65%
1982
$32,400
5.40%
1.30%
6.70%
1983
$35,700
5.40%
1.30%
6.70%
1984
$37,800
5.70%
1.30%
7.00%
1985
$39,600
5.70%
1.35%
7.05%
1986
$42,000
5.70%
1.45%
7.15%
1987
$43,800
5.70%
1.45%
7.15%
1988
$45,000
6.06%
1.45%
7.51%
1989
$48,000
6.06%
1.45%
7.51%
1990
$51,300
6.20%
1.45%
7.65%
1991
$53,400
6.20%
1.45%
7.65%
1992
$55,500
6.20%
1.45%
7.65%
1993
$57,600
6.20%
1.45%
7.65%
1994
$60,600
6.20%
1.45%
7.65%
1995
$61,200
6.20%
1.45%
7.65%
1996
$62,700
6.20%
1.45%
7.65%
1997
$65,400
6.20%
1.45%
7.65%
1998
$68,400
6.20%
1.45%
7.65%
1999
$72,600
6.20%
1.45%
7.65%
2000
$76,200
6.20%
1.45%
7.65%
2001
$80,400
6.20%
1.45%
7.65%
2002
$84,900
6.20%
1.45%
7.65%
2003
$87,000
6.20%
1.45%
7.65%
2004
$87,900
6.20%
1.45%
7.65%
2005
$90,000 6.20% 1.45% 7.65%
2006
$94,200
6.20%
1.45%
7.65%
2007
$98,400 6.20% 1.45% 7.65%
The maximum wages subject to Social Security for the next calendar year are calculated and announced by the Social Security Administration each fall. All wages paid, subject to the Medicare tax, are taxable. The Social Security and Medicare tax rates reflected above are for both the employer and employee. All information is on a calendar year basis.