Multiple Choice
Trevor earned $106,800 in 2010; therefore, he paid 6.2 percent of his income in Social Security taxes or $6,675. Meanwhile, Cody earned $213,600 and also paid 6.2 percent on his first $106,800, and then nothing on the rest, also coming to $6,675. Therefore, Social Security taxes are called _________.
A) portable
B) English poor laws
C) regressive
D) OASI
E) retrograde
Correct Answer:
Verified
Correct Answer:
Verified
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