The tax base is
A) the minimum amount of tax revenue that government must collect each year.
B) the maximum amount of tax revenue that government must collect each year.
C) the sum of all incomes earned in the United States.
D) the value of all goods, services, incomes, or wealth subject to taxation.
Answer: D
You might also like to view...
In 1938, another Agricultural Adjustment Act was passed. The error of the 1933 Act was now avoided. What had that error been?
(a) Acreage allotments (b) Combining provisions for conservation with subsidies (c) Imposition of specific taxes on food processors (d) Excessive delegation of power
Adam Matsumi is an attorney who can charge legal fees above the competitive level because entry of new competitors is made more difficult by the need to hold a(n)
a. state license b. patent c. essential resource d. economy of scale e. copyright
Foreign exchange reserves are critical to an effective floating exchange rate system
Indicate whether the statement is true or false
Which of the following is a criticism of the U.S. poverty line definition?
a. It doesn’t include government assistance such as food stamps. b. It is adjusted for different costs of living. c. It is not adjusted for inflation. d. It doesn’t include medical expenses.