Which program pays monthly retirement benefits funded by payroll taxes?
Answer and explanation
Correct answer: C. Social Security
- Step 1: Social Security is funded primarily through payroll taxes called the Federal Insurance Contributions Act (FICA) or Self Employed Contributions Act (SECA). Answer: Social Security. Why not the others: None of these fit: Unemployment insurance; Medicaid; Food stamps.
Practise more Rights, Elections and the Economy.
Free questions with an explanation for every one, and full timed General Knowledge (United States) mock tests.
More Rights, Elections and the Economy questions
- Which amendment protects freedom of speech, religion, the press and assembly?
- Which amendment protects a person from being forced to testify against themselves?
- Which amendment guarantees equal protection of the laws to all persons?
- Which amendment lowered the voting age to 18?
- Which amendment allowed Congress to collect an income tax?
- Which agency collects federal taxes in the United States?