The Social Security Administration (SSA) announced on Wednesday, October 17, 2007, that the 2008 social security wage base will be $102,000, an increase of $4,500 from the 2007 wage base of $97,500. As in prior years, there is no limit to the wages subject to the Medicare tax; therefore, all covered wages are still subject to the 1.45 percent tax.  Read more...