Which type of tax is used to finance the Social Security program in the United States?
A) Consumption tax
B) Income tax
C) Payroll tax
D) Property tax

Question

Quizplus · Accepted Answer

The payroll tax is used to finance the Social Security program in the United States. This tax is a percentage of an employee's wages that is paid by both the employee and the employer. It is collected through the Federal Insurance Contributions Act (FICA) and the Self-Employment Contributions Act (SECA) and is separate from income tax.

Which Type of Tax Is Used to Finance the Social