In its purest form, a ______ system would eliminate the existing array of different tax rates on personal income and replace them with a single tax.
A) value-added tax
B) consumption tax
C) sales tax
D) flat-rate income tax
Correct Answer:
Verified
Q62: The federal personal income tax is a
A)
Q63: Property taxes are essentially
A) regressive taxes
B) flat-rate
Q64: Most economists argue that when federal, state,
Q65: Most economists agree that the U.S. system
Q66: The various exemptions, deductions, and credits permitted
Q68: A(n) _ operates like a retail sales
Q69: Total tax receipts, as a percentage of
Q70: The advantages of a flat tax include
Q71: Consumer spending by households includes all of
Q72: The largest share of tax revenue to
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