STAYER ECO 450 Week 7 Quiz 5 Ch 10
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1 . Taxes simultaneously ration and finance government goods and services . 2 . The federal government finances only half of its expenditures with taxes .
3 . The benefit principle argues that the means of financing government goods and services should be linked to the benefits received from those goods and services .
4 . Horizontal equity is achieved when individuals of the same economic capacity pay the same amount of taxes over a given period .
5 . A flat-rate income tax is a proportional tax on an income base .
6 . The marginal tax rate will eventually exceed the average tax rate if the tax rate structure is proportional .
7 . The marginal tax rate for a payroll tax is 7 percent on all wages up to $ 60,000 per year . The marginal tax rate for wages in excess of $ 60,000 per year is zero . The payroll tax is therefore a regressive tax .