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- The single largest source of revenue for the federal government are corporate income taxes.The following levels of government determine a budget each year to show how much revenue the government expects to receive in taxes and other income and how the government plans to spend it: A, B, C, OR D a Federal only b State and federal only c Federal, state, and local d Local onlyA simultaneous increase in taxes and increase in government spending would result to the following:
- A new elected government want to reform its tax system. As an economist you are hired to advise the government how to design a better tax system. Give your recommendation on factors that government need to consider if they want to implement the better tax system. Add specific example or case for each factor you recommend to governmentFor the government to run efficiently, it must collect tax revenue from the people. What is the greatest source of revenue for the federal government? sales taxes income taxes tariffs property taxesHow does public sector spending effect the economy and the businesses within?
- Government collects the largest percentage of its revenue in which of the following ways? A) excise tax B) payroll tax C) corporate income tax D) personal income taxWhat is the relative importance of taxation to the economy of the countryState tax rates can be progressive but not flat. True or false