alleryStart learning →Which taxes are described as providing smaller shares of federal revenue?
AIncome and excise taxes
BProperty and estate taxes
CSales and tariff taxes
DCorporate and social insurance
Answer & Solution
Correct answer: D. Corporate and social insurance
1. Federal revenue is dominated by a few sources.
2. The income tax is the largest single federal revenue source.
3. Corporate income taxes and social insurance taxes provide smaller shares of revenue.
4. Excise taxes are smaller still.
_Source: OpenStax Principles of Macroeconomics for AP Courses 2e (CC BY 4.0), Ch 16 'Government Budgets and Fiscal Policy'_
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