Multiple Choice
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.
Correct Answer:
Verified
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