Which of the following statements is not correct?
A) All states have state income taxes, but the percentages vary widely.
B) Sales taxes and property taxes are important revenue sources for state and local governments.
C) Medicare spending has increased because the percentage of the population that is elderly has increased, as has the cost of health care compared to cost of other goods and services.
D) A budget deficit occurs when government spending exceeds government receipts.
Correct Answer:
Verified
Q11: Rate these taxes as sources of revenue
Q12: State and local governments
A)are funded entirely by
Q14: The largest source of income for the
Q15: Today the typical American pays what percent
Q17: Approximately what percent of the federal government's
Q19: The U.S.federal government collects taxes in a
Q40: Taxes on specific goods such as cigarettes,gasoline,and
Q96: Which of the following statements about state
Q129: Which of the following statements is correct?
A)Equity
Q137: State and local governments
A) use a mix
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