Asked by Molly McHugh on May 15, 2024
Verified
In 2017,each individual's required contribution to Social Security was ________ percent of
His or her first $127,200 of income.
A) 0
B) 1.45
C) 6.2
D) 7.65
Social Security
A government program that provides financial assistance to people who are retired, disabled, or otherwise eligible for benefits based on their earnings records.
Income Percentage
The proportion of a person's or entity's income relative to a specific benchmark or total income, often used in financial analysis and planning.
- Recognize the contribution of various actors to the well-being of society across historical epochs.
Verified Answer
DW
Dijion WallsMay 18, 2024
Final Answer :
C
Explanation :
The required contribution to Social Security in 2017 was 6.2 percent of an individual's first $127,200 of income. Therefore, the correct choice is C. Choice A is incorrect because it implies that there was no required contribution in 2017. Choice B is incorrect because it represents the required contribution to Medicare, not Social Security. Choice D is incorrect because it represents the sum of the required contributions to both Social Security and Medicare.
Learning Objectives
- Recognize the contribution of various actors to the well-being of society across historical epochs.