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The 2017 Social Security wage base increased by $8,700. The wage base in 2017 is $127,200. The 2016 Social Security wage base was $118,500. The Social Security wage base has increased in four of the last five years.
The Social Security tax is a flat rate tax with a maximum cap. The Social Security tax is a flat 12.4% on all compensation income, up to a maximum compensation amount of $118,500 for 2015. This $118,500 amount is called the Social Security wage base. The wage base amount is set each year by the Social Security Administration.