An Employee Earned $37,000 During the Year Working for an Employer

question 87

Multiple Choice

An employee earned $37,000 during the year working for an employer when the maximum limit for Social Security was $118,500 each calendar year. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The employee's annual FICA taxes amount is:

• A)$2,294.00.
• B)$536.50.
• C)$2,830.50.
• D)$1,757.50.
• E)$8,950.50.

---

Definitions:

Hegemonic Masculinities

A concept that explains the cultural dynamics that ensure male dominance over females by promoting certain values and behaviors as the norm.

Economic Enterprises

Organizations or businesses engaged in commercial, industrial, or professional activities with the aim of generating profits.

Racial Wealth Gap

The significant disparity in median wealth between different racial and ethnic groups in a society, often resulting from historical inequities and systemic racism.

Racialized Institution

An institution that embeds racial practices and policies within its operations, thereby perpetuating racial inequalities and hierarchies.