Which of the following statements is true ?
A) The most important source of revenue to the federal government is personal income taxes.
B) The most important source of revenue to state governments are sales and property taxes.
C) The most important source of revenue to local governments are local property taxes.
D) The taxation burden, measured by taxes as a percentage of GDP, is lighter in the United States than in most other advanced industrial countries.
E) All of the above.

Question

Quizplus · Accepted Answer

A) Personal income taxes are the largest source of federal revenue, according to the Congressional Budget Office.
B) Sales and property taxes are the two largest sources of state and local government revenue, respectively, according to the National Association of State Budget Officers.
C) Local property taxes are the largest source of revenue for local governments, according to the National Conference of State Legislatures.
D) Taxation burden in the United States is lighter than many other advanced industrial countries, according to the Organization for Economic Cooperation and Development (OECD).

Which of the Following Statements Is True