One Proposal for Solving the Social Security Problem Is Privatization

question 41

Multiple Choice

One proposal for solving the social security problem is privatization.This means:

• A)refusing to provide retirement benefits,thereby forcing people to use private savings.
• B)providing retirement benefits only to those who had worked for a private firm.
• C)providing retirement benefits only to those who also save privately.
• D)allowing participants to choose how their tax funds are to be invested.
• E)preventing participants from paying taxes on their retirement income.

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Definitions:

Consumer Product Safety Commission

A U.S. government agency responsible for protecting the public from unreasonable risks of injury or death associated with consumer products.

Mandatory Safety Standards

Regulations that specify minimum requirements for the health and safety conditions in workplaces or products to protect consumers and workers.

Ad Substantiation

The requirement for advertisers to have evidence supporting their claims, ensuring that advertisements are truthful and not misleading.

Magnuson-Moss Act

A federal law in the United States that governs warranties on consumer products.