Which of the following correctly depicts the changes in the sources of federal,state,and local receipts in the past 50 years?
A) Income taxes are now a larger share of federal receipts.
B) Property taxes are now a larger share of state and local receipts.
C) Corporate and excise taxes are now a smaller share of federal receipts.
D) Sales taxes constitute the exact same share of state and local receipts.
Correct Answer:
Verified
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