17
QuizMultiple Choice

Taxes

Question 17 • 2027 Ignite Financial Literacy-Personal Finance - EL3403

Social security and medicare are

Answer
A
progressive taxes.
B
payroll taxes.
C
local taxes.
D
corporate taxes.

Explanation

Social Security and Medicare are funded mainly through taxes withheld from workers’ paychecks and paid by employers. These are called payroll taxes, so the correct choice is “payroll taxes.”

AI-written and checked against the verified answer.