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The Ultimate Social Security Taxes Quiz
by Staff
Do you know how much you pay in Social Security tax each year? Did you know that you actually pay each time you receive a paycheck? Learn all about the Social Security system in the United States and find out how it benefits you by taking our quiz.

The United States Social Security system provides financial assistance to:

  • retirees
  • the disabled
  • both of the above

The health insurance program that provides health care for the elderly is called:

  • Medicare
  • Medicaid
  • Medisixty

Where does the money for Social Security come from?

  • sales tax
  • social security tax
  • property tax

Which demographic factor is the main reason there are less social security funds available for payment to retirees than in the past?

  • increased life expectancy
  • increased immigration
  • increased birth rate

As of 2010, what percentage does the government take out of every working American's paycheck for Social Security taxes?

  • 15.3 percent
  • 16.3 percent
  • 17.3 percent

Which United States law sets the percent rate for withholding tax that is paid to Social Security and Medicare?

  • the Federal Insurance Contributions Statute
  • the Federal Insurance Contributions Law
  • the Federal Insurance Contributions Act

Which United States law governs the Social Security taxes paid by the self-employed?

  • the Self-Employment Contraband Act
  • the Self-Employment Retributions Act
  • the Self-Employment Contributions Act

If you overpay your Social Security tax during the year:

  • It will be returned to you.
  • It will not be returned to you.
  • You will receive a penalty.

The maximum amount of your income subject to Social Security tax is known as:

  • the Social Security Income Cap
  • the Social Security Income Base
  • the Social Security Wage Base

What is your combined income?

  • the total of all your sources of income and one-quarter of your Social Security benefits
  • the total of all your sources of income and half of your Social Security benefits
  • the total of all your sources of income and three-quarters of your Social Security benefits