Identify a reason why Social Security as it currently exists is unsustainable in the long run.The overall U.S. population is shrinking because of decreasing life expectancy, so soon there would not be enough taxpayers to fundA.the Social Security program.B. Income tax revenues that form the largest source of funds for Social Security programs are projected to decline in the long run.OC. Individual income that is subject to Social Security taxes is capped at about $117,000.D. Corporate income that is subject to Social Security taxes is capped at $1 million.

Social security benefits are funded by dedicated payroll tax. Workers pay from their earnings.

Identify a reason why Social Security as it currently exists is unsustainable in the long run. The overall U.S. population is shrinking because of decreasing life expectancy, so soon there would not be enough taxpayers to fund A. the Social Security program. OB. Income tax revenues that form the largest source of funds for Social Security programs are projected to decline in the long run. C. Individual income that is subject to Social Security taxes is capped at about $117,000. O D. Corporate income that is subject to Social Security taxes is capped at $1 million.

Identify a reason why Social Security as it currently exists is unsustainable in the long run. The overall U.S. population is shrinking because of decreasing life expectancy, so soon there would not be enough taxpayers to fund A. the Social Security program. OB. Income tax revenues that form the largest source of funds for Social Security programs are projected to decline in the long run. C. Individual income that is subject to Social Security taxes is capped at about $117,000. O D. Corporate income that is subject to Social Security taxes is capped at $1 million.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 9C

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