QUESTION IMAGE
Question
a. for each of the pairs, please select who tends to benefit more from social security.
men or women
low income or high income
married or single
answer bank
women men low income married
high income single
b. what does it mean that social security is a pay - as - you - go system?
it means
○ individuals earn interest on each payment.
○ revenue from social security tax is deposited in individual retirement accounts.
○ payments to social security are voluntary.
○ revenue from the current social security tax is used to fund current payments.
a. Social Security benefits are progressive (favor low-income earners), women often live longer (more benefit years), and married individuals may access spousal benefits.
b. A pay-as-you-go system uses current tax revenue to fund current benefit payments, not individual accounts or interest-earning deposits.
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a. men or women: women
low income or high income: low income
married or single: married
b. revenue from the current Social Security tax is used to fund current payments.