Which of the following statements is correct?
A) In 2008,the combined Social Security-Medicare tax amounted to 15.3 percent of a worker's income.
B) The White House budget office has asserted that Social Security and Medicare have promised to pay out $18 trillion more in benefits than they will receive in revenue in coming decades.
C) If payroll taxes are increased to maintain current levels of Social Security and Medicare benefits,an expected result would be fewer hours worked per week by the average American worker.
D) All of the above are correct.

Question

Quizplus · Accepted Answer

All the statements are correct: A) The combined Social Security-Medicare tax rate was indeed 15.3% in 2008. B) The White House budget office has projected significant shortfalls in Social Security and Medicare funding. C) Increasing payroll taxes could lead to reduced work hours as workers adjust to higher tax burdens.

Which of the Following Statements Is Correct