The U.S. social security retirement program is considered a transfer payment system.

Name: The U.S. social security retirement program is considered a transfer payment system.
Brand: Quizplus
Rating: 4.8 (64 reviews)

Question

Quizplus · Accepted Answer

The U.S. social security retirement program is funded by payroll taxes and provides benefits to retirees, survivors, and disabled individuals. It is considered a transfer payment system because it transfers income from current workers to retirees and other beneficiaries.

The US Social Security Retirement Program Is Considered a Transfer Payment