Which Statement Is Not True of Social Security Taxes

question 57

Multiple Choice

Which statement is not true of Social Security taxes?

• A)There is an annually determined limit on the income that is subject to social security taxes.
• B)They must also be paid by self-employed individuals.
• C)They cannot be deducted as an itemized expense on your individual income tax return.
• D)They have a progressive rate structure similar to that of the personal income tax.

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Definitions:

Standard Deviation

A statistic that measures the dispersion or variation of a set of values relative to the mean.

Random Variable

A variable whose possible values are numerical outcomes of a random phenomenon, with each outcome having a probability associated with it.

Packet of Rice

A pre-measured, packaged amount of rice, typically sold in a sealed bag or box.

Remaining

The portion of something that is left after other parts have been used, removed, or subtracted.