Which of the Following Statements Regarding the Funding of Social

question 50

Multiple Choice

Which of the following statements regarding the funding of Social Security is false?

• A)In 2004, workers contributed 6.2% of their wages up to a maximum of $87,900.
• B)Employers contribute an amount equal to the workers' contributions.
• C)Interest, dividend, rent, and royalty income are also taxed to provide supplemental funds for Social Security.
• D)Contributions exceeding the amounts paid to current Social Security recipients are invested in Treasury bonds to build up a Social Security trust fund.

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