Asked by CECILIA SIOCO on May 21, 2024
Verified
Payroll taxes account for more than one-third of federal tax revenues.
Payroll Taxes
Charges applied to both employers and employees, often determined by a fraction of what employers compensate their workers.
- Analyze the composition of federal tax revenues and spending allocations.
Verified Answer
SS
Samuel SpicerMay 27, 2024
Final Answer :
True
Explanation :
Payroll taxes, which fund Social Security and Medicare, constitute a significant portion of federal tax revenues, often accounting for more than one-third of the total.
Learning Objectives
- Analyze the composition of federal tax revenues and spending allocations.