Social Security\"s Old-Age, Survivors, and also Disability insurance allowance (OASDI) program borders the amount of earnings subject to taxation for a provided year. The same yearly limit also applies when those revenue are offered in a benefit computation. This limit changes each year with alters in the national median wage index. We call this annual limit the contribution and also benefit base. This amount is also commonly referred to as the taxable maximum. For earnings in 2021, this basic is $142,800.

The OASDI tax rate for earnings paid in 2021 is set by state at 6.2 percent because that employees and employers, each. Thus, one individual with wages equal to or bigger than $142,800 would contribute $8,853.60 to the OASDI program in 2021, and also his or she employer would contribute the same amount. The OASDI tax rate for self-employment revenue in 2021 is 12.4 percent.

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because that Medicare\"s Hospital insurance money (HI) program, the taxable maximum to be the same as the for the OASDI program for 1966-1990. Different HI taxable maximums the $125,000, $130,200, and $135,000 were applicable in 1991-93, respectively.

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~ 1993, there has been no limitation top top HI-taxable earnings. Tax prices under the HI routine are 1.45 percent because that employees and employers, each, and 2.90 percent for self-employed persons.

Contribution and also benefit bases, 1937-20211937-50
Year Amount
$3,000
1951-54 3,600
1955-58 4,200
1959-65 4,800
1966-67 6,600
1968-71 7,800
1972 9,000
1973 10,800
1974 13,200
1975 14,100
1976 15,300
1977 16,500
1978 17,700
1979 22,900
1980 25,900
1981 29,700
1982 32,400
1983 35,700
1984 37,800
1985 39,600
Year Amount1986
$42,000
1987 43,800
1988 45,000
1989 48,000
1990 51,300
1991 53,400
1992 55,500
1993 57,600
1994 60,600
1995 61,200
1996 62,700
1997 65,400
1998 68,400
1999 72,600
2000 76,200
2001 80,400
2002 84,900
2003 87,000
2004 87,900
2005 90,000
Year Amount2006
$94,200
2007 97,500
2008 102,000
2009 106,800
2010 106,800
2011 106,800
2012 110,100
2013 113,700
2014 117,000
2015 118,500
2016 118,500
2017 127,200
2018 128,400
2019 132,900
2020 137,700
2021 142,800
Note: quantities for 1937-74 and also for 1979-81 were set by statute; every other quantities were established under automatically adjustment provisions that the Social defense Act.