Which of these is NOT a source of funding for Social Security benefits?

Prepare for your Florida 2-14 Life Insurance License Test. Use flashcards and multiple choice questions with hints and explanations to get ready. Boost your confidence before the exam!

The Federal Government is not a direct source of funding for Social Security benefits. Instead, Social Security is primarily funded through specific taxes imposed on earnings, which include employee payroll taxes, employer payroll taxes, and self-employment taxes.

Employee payroll taxes are deducted from workers' paychecks and contribute to the Social Security trust fund. Similarly, employer payroll taxes are contributions made by employers based on their employees' wages. Self-employed individuals pay self-employment taxes, which encompass both the employee and employer portions of Social Security and Medicare taxes.

In contrast, while the Federal Government administers Social Security benefits and may influence funding and allocation through legislation, it does not fund these benefits directly through general government revenues. This differentiates the Federal Government from other sources that contribute funding specifically earmarked for Social Security.

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