Which of the following best describes how the Social Security system is funded?
A) Fees paid to the Federal Deposit Insurance Corporation (FDIC)
B) A pay-as-you-go system where those currently working support those who are retired
C) Funded solely by employees' contributions through wages
D) Funded by a progressive tax on income
E) Essentially, a private pension fund in which employees decide how much to contribute
Correct Answer:
Verified
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