Please clarify. Suppose there are two hypothetical wage-earners. The first, Larry Lowpaid, makes $20,000 SS taxable wages per year. He pays 6.2% of this, which is $1240 a year, in Social Security tax, and at full retirement age is eligible for an annual benefit of 90% of his taxable wage, which is $18,000. The other, Harry Highwages, who makes $200K a year, pays SS tax of 6.2% of the first $106,800 earned, which is $6621.60, and gets a benefit of 15% of wage subject to SS tax, which is 0.15 x $106,800=$16,020. Is this correct?