Asked by
Chloe Christian
on Oct 13, 2024
Verified
Which of the following statements does not apply to the U.S.tax structure?
A) The individual income tax system is progressive.
B) General sales taxes are regressive.
C) Property taxes are an important source of revenue for the federal government.
D) The major sources of revenue for the federal government differ from the major sources of revenue for state and local governments.
Federal Government
The national government of a federation, responsible for national affairs, and often composed of states, provinces, or territories.
U.S. Tax Structure
The system of taxation in the United States, comprising various types of taxes such as income, corporate, sales, and payroll taxes.
Property Taxes
Taxes levied on property owners by local governments based on the assessed value of their property, including land and buildings.
- Achieve an understanding of the layout and repercussions of different tax categories, including corporate income tax, excise taxes, and Social Security tax.
- Ascertain the key concepts of progressive, proportional, and regressive taxation and how they function within different tax architectures.
- Understand the sources of federal and local government revenue and types of expenditures.
Verified Answer
AN
Learning Objectives
- Achieve an understanding of the layout and repercussions of different tax categories, including corporate income tax, excise taxes, and Social Security tax.
- Ascertain the key concepts of progressive, proportional, and regressive taxation and how they function within different tax architectures.
- Understand the sources of federal and local government revenue and types of expenditures.