Which of the following is true of Social Security?

Question

Quizplus · Accepted Answer

Employers are required to remit Social Security payments to the IRS through payroll tax withholding. The contribution is split equally between employees and employers, with self-employed individuals responsible for both shares of the tax. However, Social Security does not operate like a savings account, as the funds are not held in individual accounts but rather are used to pay current beneficiaries.

Which of the Following Is True of Social Security