Question

To finance their expenditures, most states rely heavily on: a. Personal income taxes and sales taxes...

To finance their expenditures, most states rely heavily on:

a.

Personal income taxes and sales taxes
b.

Personal income taxes and user fees
c.

FICA (Social Security) taxes and corporate income taxes
d.

Property taxes and corporate income taxes

A progressive tax has a ________ that ________ as income rises. And, it also generally _______ income inequality. Choose the correct combination.

a.

rate; declines; reduces
b.

rate; increases; increases
c.

rate; increases; reduces
d.

cap; increases; increases
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Homework Answers

Answer #1

Answer : 1) The answer is option a.

Government expenditure depends on government revenue. The state government's revenue mainly comes from personal imcome tax and sale tax. Hence option a is correct.

2) The answer is option c.

In progressive tax system higher income people pay higher tax rate in compared to lower income people. As in progressive tax system higher income people pays higher tax and lower income people pays lower tax hence the income inequality decrease. Therefore, option c is correct.

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