Question

Which of the following individuals are required to pay taxes to fund Social Security and Medicare?

A. Employees.
B. Employers.
C. Self-employed individuals.
D. Employees, employers, and self-employed individuals.

Answer 1

Correct option is (D)

Step-by-step explanation:

Employees, employers and self employed are supposed to contribute to fund social security and medicare.

Contribution made by each party comes under different categories. Employees contribute to social security and medicare in the the form of FICA taxes which could be withheld by the employers. Employees pay 50 percent and the remaining 50 percent is paid by the employer.

Self employed contribute in the form of self employed taxes.