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All of the following statements regarding the Social Security system are correct EXCEPT: the law allowing Social Security taxes to be deducted from workers' paychecks

All of the following statements regarding the Social Security system are correct EXCEPT:


  • the law allowing Social Security taxes to be deducted from workers' paychecks is the Federal Insurance Contributions Act
  • the federal Old-Age and Survivors Insurance Trust Fund pays retirement and survivors benefits
  • the two Medicare trust funds are the federal Hospital Insurance Trust Fund for Part A, and the Supplementary Medical Insurance Trust Fund for Part B
  • the Medicare trust funds are not expected to be exhausted anytime in the foreseeable future

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