The payments made to the beneficiaries of the Social Security program are financed by
a. insurance premiums previously paid into the system by the beneficiaries.
b. current receipts derived from the Social Security payroll tax.
c. income derived from funds that were previously invested in stocks and bonds.
d. governmental savings accounts based on the amount of funds the recipient previously paid into the system.
B
You might also like to view...
The excise tax on gasoline is based on the ability-to-pay principle of taxation
a. True b. False
If prices in the United States rose, which of the following could be directly attributed to the international substitution effect?
a. Americans reduce their purchases of Japanese cars. b. Australians buy more American surfboards. c. Europeans purchase fewer American-made personal computers. d. Americans sell more wheat to India.