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Multiple Choice QuestionWho collects Social Security funds from payroll taxes paid by both employers and employees?Multiple choice question.The federal governmentThe state governmentUnionsEmployers

Question

Multiple Choice QuestionWho collects Social Security funds from payroll taxes paid by both employers and employees?Multiple choice question.The federal governmentThe state governmentUnionsEmployers

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Solution

The correct answer is "The federal government".

Here is the step by step explanation:

  1. Social Security is a federal program in the United States. It provides benefits to retired people, disabled individuals, and their survivors.

  2. The funds for this program come from payroll taxes, which are paid by both employers and employees.

  3. These payroll taxes are collected by the Internal Revenue Service (IRS), which is a federal agency.

  4. Therefore, it is the federal government that collects Social Security funds from payroll taxes paid by both employers and employees.

The state government, unions, and employers do not collect these funds.

This problem has been solved

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