The Term "Payroll Taxes" Is Often Used to Refer to

question 229

Multiple Choice

The term "payroll taxes" is often used to refer to

• A)individual income taxes that are withheld from paychecks.
• B)corporate income taxes.
• C)Social Security and Medicare taxes.
• D)sales taxes.

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Definitions:

Redlining

A discriminatory practice by which services (like banking and insurance) are withheld from potential customers in certain neighborhoods based on racial or ethnic composition.

Gramm-Leach-Bliley Financial Modernization Act

A U.S. federal law enacted in 1999 to control the ways that financial institutions deal with the private information of individuals.

Dodd-Frank Act

A federal law passed in 2010 aimed at reducing risks in the U.S. financial system through comprehensive regulation of financial markets and institutions.

Federal Trade Commission

A U.S. government agency established to protect consumers and promote competition, enforcing antitrust and consumer protection laws.