The Maximum Base for the Social Security Tax Is the Same

question 55

True/False

The maximum base for the social security tax is the same as that for the Medicare tax.

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Definitions:

Border States

Refers to the slave states that did not secede from the Union during the American Civil War, namely Delaware, Maryland, Kentucky, and Missouri.

Emancipation Proclamation

A historic executive order issued by President Abraham Lincoln in 1863 that declared the freedom of all enslaved people in Confederate states.

Officially Take Effect

When something is said to officially take effect, it means it begins to legally or formally be applied or enforced from a specified moment.

January 1, 1863

The date when the Emancipation Proclamation was officially issued by President Abraham Lincoln, declaring the freedom of all slaves in Confederate territory.