Employee Paycheck Calculator

Maybe you want to Pay your employees. Maybe you don’t. In the case of the former there’s  a link to a quick and easy C++ paycheck calculator at the bottom of the following problem:

PROBLEM:
Write a program that calculates and prints the monthly paycheck for an employee. The net pay is calculated after taking the following deductions;
Federal Income Tax: 15%
State Tax: 3.5%
Social Security Tax: 5.75%
Medicare/Medicaid Tax: 2.75%
Pension Plan:5%
Health Insurance: $75.00
The program should prompt the user to input the gross amount and the employee name. The output will be stored in a file. Format your out put to have two decimal places. A sample output follows:

Bill Robinson

Gross Amount: ………..$375.00
Federal Tax: ………………$536.25
State Tax: ……………………$125.13
Social Security Tax: …..$ 205.56
Medicare/Medicaid Tax: $98.31
Pension Plan: ………………$ 178.75
Health Insurance: ……….$ $75.00
Net Pay: ………………………..$2356.00

The first column is left-justified, and the right column is right-justified

SOLUTION:
See Algorithm as comment above the Code below