__________________ is withheld from a paycheck and is used to fund government services such as healthcare, national defense, and scientific programs.
Question 5 options:
Federal Income Tax
State Income Tax
Medicare
Social Security
Federal Income Tax
The correct answer is Federal Income Tax. Federal Income Tax is withheld from a paycheck and is used to fund government services such as healthcare, national defense, and scientific programs. State Income Tax, Medicare, and Social Security are separate taxes with different purposes.
The correct option from the given choices is Federal Income Tax.
To verify this, you need to understand the purpose of each of the options.
State Income Tax is a portion of an individual's income that is withheld by the state government to fund state services such as education, infrastructure, and other state-specific programs. Since the question specifically mentions healthcare, national defense, and scientific programs, which are typically funded by the federal government, we can eliminate State Income Tax as the answer.
Medicare is a federal health insurance program that provides coverage to individuals who are 65 years or older, as well as some younger individuals with certain disabilities. While Medicare does contribute to healthcare funding, it is not directly withheld from paychecks. It is typically funded through payroll taxes and other revenue sources. Therefore, Medicare is not the correct option here.
Social Security is a federal program that provides income benefits to retired workers, as well as disability and survivor benefits. Similar to Medicare, Social Security is funded through payroll taxes and other revenue sources and is not directly withheld from paychecks. Hence, Social Security is not the answer to this question.
This leaves us with Federal Income Tax as the only option remaining. Federal Income Tax is a portion of an individual's income that is withheld by the federal government to fund various government services, including healthcare, national defense, scientific programs, and other areas. It is deducted from an employee's paycheck by their employer and is typically calculated based on the individual's income level and tax bracket.
Therefore, the correct answer is Federal Income Tax.