Author Question: Which of the following statements about the financing of the Social Security program is (are) true? ... (Read 62 times)

B · **on:** Jul 11, 2018

Which of the following statements about the financing of the Social Security program is (are) true?

I. Although the self-employed pay an OASDI tax rate that is twice the employee rate, they are allowed certain deductions that reduce the effective tax rate.
II. The earnings base on which OASDI taxes are paid increases annually based on changes in average wages in the national economy.
A) I only
B) II only
C) both I and II
D) neither I nor II

Question 2

Which of the following statements about unemployment insurance benefits is true?

A) Benefits are a flat amount regardless of a worker's previous wages.
B) Because of federal legislation, the maximum benefit is the same in all states.
C) Most states pay regular benefits for a maximum duration of 26 weeks.
D) Under the extended benefits program, the federal government continues benefit payments for up to 3 years for workers who have exhausted their regular benefits.