how it s calculated 
social security tax 168 600 wage base limit x 062 the employee rate of 6 2 10 453 20medicare tax 250 000 x 0145 the employee rate of 1 45 3 625additional medicare tax 50 000 x 009 the total rate of 0 9 450total medicare taxes 4 075 3 625 450 total fica 14 528 20 10 453 20 4 075 21114special considerationsaccording to the congressional budget office it s estimated that the social security trust fund will run out of the money needed to make monthly social security payments in 2033 this would occur because revenues received into the program will not be enough to cover payments from it 15that imbalance will be due to the growing population of recipients of social security benefits and a shrinking workforce that s needed to fund the program with fica taxes policy makers are considering a variety of actions that could rectify this situation these include raising the full retirement age currently age 67 decreasing the financial benefits received in particular by high earners and increasing the payroll tax rate 16