Using the data from the Coffee & Cocoa Company,
Definitions:
Social Security Tax
A payroll tax that finances the United States' social security program, providing benefits for retirees, the disabled, and children of deceased workers.
Hourly Wage Rate
The amount of money paid for each hour of work performed, typically associated with part-time or contractual employment.
Gross Pay
The total compensation a person receives before any deductions or taxes are taken out.
Medicare Tax Rate
The percentage of an individual's or employer's earnings that is contributed to Medicare, a U.S. federal health insurance program.
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