The Social Security tax is regressive because:
A. The Social Security tax rate applied does not rise with the salary level
B. No Social Security tax is collected for incomes in excess of a "cap" income level
C. Each individual must pay a set percentage of his or her income in Social Security taxes
D. As income increases, the Social Security tax rate increases at a decreasing rate
B. No Social Security tax is collected for incomes in excess of a "cap" income level
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When the average product is at its maximum,
A) the marginal product is increasing as output increases. B) the marginal product is negative. C) it is equal to the marginal product. D) total product is also at its maximum. E) total product is at its minimum.
State and local government spending as a share of GDP has: a. decreased from 12% in 1960 to about 8% in 2014
b. increased from 12% in 1960 to about 20% in 2014. c. remained more or less stable at 12% between 1960 and 2014. d. increased from 20% in 1960 to about 30% in 2014.