Asked by Amie Waelty on May 11, 2024
Verified
The Social Security tax is a tax on
A) capital.
B) labor.
C) land.
D) savings.
Social Security Tax
A tax levied on both employers and employees to fund the Social Security program, which provides retirement, disability, and survivors' benefits.
Labor
The human effort, both physical and mental, used in the production of goods and services, considered one of the main factors of production.
- Pinpoint the fundamental qualities of how the labor market adjusts to taxation.
Verified Answer
GR
Gabby RevellMay 18, 2024
Final Answer :
B
Explanation :
The Social Security tax is primarily a tax on labor, as it is levied on both employers and employees based on the wages and salaries earned by the latter.
Learning Objectives
- Pinpoint the fundamental qualities of how the labor market adjusts to taxation.