Which of the Following Statements About the Social Insurance Tax

question 53

Multiple Choice

Which of the following statements about the social insurance tax is INCORRECT?

• A) According to the book,the tax rate for the programs is 15.3 percent.
• B) The amount paid is typically split in half between employer and employee.
• C) Lower income individuals are exempt from social insurance tax withholding.
• D) There is a cap on the portion of income taxed for Social Security.
• E) Self-employed individuals pay the full 15.3 percent rate.

---

Definitions:

Scales of Measurement

A classification that describes the nature of information within the values assigned to variables in statistical analysis.

Ordinal

Relating to a categorical ranking in which the order of the values is significant, but the difference between them is not uniformly spaced.

Census

A complete enumeration or count of a population at a set point in time, gathering various demographic, social, and economic information.