Which of the following choices are included under the taxes imposed by the Social Security Act?

Study for the Social Security Taxes Test. Prepare with questions and detailed explanations to understand the principles effectively. Get ready for your exam!

The Social Security Act imposes various taxes to fund critical benefits for individuals, including retirees, the disabled, and survivors of deceased workers. Among these taxes are the Old-Age, Survivors, and Disability Insurance (OASDI) taxes, and the Hospital Insurance (HI) taxes, which are the foundation of the Social Security program.

The OASDI tax is often referred to as the Social Security tax, and it provides funding for retirement and disability benefits. The HI tax funds Medicare, which provides healthcare for the elderly and certain disabled individuals. Both employers and employees contribute to these taxes, which is why it encompasses more than just taxes on one specific group.

These factors illustrate why the choice stating that all the options are included is accurate. The taxes are not limited to just employers or employees but include contributions from both sides as well as specific types of taxes under the Social Security framework. Thus, it incorporates the various taxes that are essential for maintaining the programs established under the Social Security Act.

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