Payment for Social Security is made through payroll taxes. The Social Security Administration provides benefits to elderly
Fantastic news! We've Found the answer you've been seeking!
Question:
Payment for Social Security is made through payroll taxes. The Social Security Administration provides benefits to elderly and disabled people, as well as their dependant spouses and children (Social Security). Payroll taxes, which are deducted from employees' paychecks to fund the program, are used to fund it. Social Security benefits for the aged and handicapped are funded by payroll taxes. The program is also supported by interest earnings from the Social Security trust fund.
Related Book For
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780133791006
13th Edition
Authors: Jeffrey Slater
Posted Date: