What are the two largest sources of tax revenues for the U.S. federal government?
What will be an ideal response?
The largest source of tax revenue for the U.S. federal government is personal income taxes, that is, the income taxes that individuals pay. The second largest source of revenue is Social Security taxes. Personal income taxes account for about 41 percent of the federal government's revenue and Social Security taxes account for about 40 percent, so together these two sources of revenue are 81 percent of the federal government's total tax revenues.
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If employers were required by law to increase the wages paid to secretaries by 40 percent, which consequence could we most confidently predict?
A) More secretaries would be employed. B) Secretaries would begin to earn more than they are worth to their employers. C) The marginal value of secretaries would increase by about 40 percent. D) The total amount of wages paid to secretaries would decrease. E) The total amount of wages paid to secretaries would increase.
As the ________ interest rate increases, the quantity of loanable funds demanded ________
A) real; increases B) real; decreases C) nominal; increases D) nominal; decreases
The transformation in labor has dramatically impacted the distribution of income in the U.S
Indicate whether the statement is true or false
Free trade associations can potentially be harmful to international trade.
Answer the following statement true (T) or false (F)