Statement I: The two largest categories of federal spending are Social Security and defense.
Statement II: The payroll tax is a more important source of revenue for the federal government than the corporate income tax.

Question

Quizplus · Accepted Answer

Both statements are true. It is widely known and reported that the Social Security and defense categories are the largest federal spending categories. In addition, the payroll tax does generate more revenue for the federal government than the corporate income tax.

Statement I: the Two Largest Categories of Federal Spending Are