Which of the following statements is not correct regarding taxes?
A) The largest source of state and local governments tax revenue is sales and excise taxes.
B) The largest source of federal government tax revenue is individual income taxes.
C) A sales tax on food is a regressive tax.
D) A proportional tax is equal to a fixed dollar amount.
Correct Answer:
Verified
Q28: Exhibit 12-1 Income for two persons
Q29: If a person is concerned that an
Q30: A tax is regressive if it collects
Q31: A tax that is structured so that
Q32: Suppose George's income is $10,000 and he
Q34: If a person is taxed $100 on
Q35: If a person is taxed $100 on
Q36: Exhibit 12-3 Income for two persons
Q37: A tax where the percentage of income
Q38: When the tax structure of a nation
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