Which statement is true?
A. A person earning $100,000 pays $10,000 in payroll tax.
B. Most taxpayers pay more in payroll tax than in personal income tax.
C. The Medicare tax rate is 6.2%.
D. There is no such thing as a regressive tax.
B. Most taxpayers pay more in payroll tax than in personal income tax.
You might also like to view...
If you purchased a newly issued 30-year bond from Google with a face value of $3,000 and a coupon payment of 6 percent, Google would pay you
A) $180 per year for 30 years plus $3,000 at the end of the 30th year. B) $100 per year plus 6 percent per year for 30 years. C) $100 per year for 30 years plus $3,000 at the end of the 30th year. D) $180 per year for 30 years.
Interest rates are positive because inflation makes purchases more expensive in the future than today
Indicate whether the statement is true or false