Excise taxes Select one: O a bring in approximately 50% of state and local tax revenue. O b. operate like the federal personal income tax except that they do not apply to low income people. O c. bring in approximately 20% of federal tax revenue. O d. operate like sales taxes but are applied only to specific goods and services.
Excise taxes Select one: O a bring in approximately 50% of state and local tax revenue. O b. operate like the federal personal income tax except that they do not apply to low income people. O c. bring in approximately 20% of federal tax revenue. O d. operate like sales taxes but are applied only to specific goods and services.
Chapter1: Making Economics Decisions
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![Excise taxes
Select one:
O a bring in approximately 50% of state and local tax revenue.
O b. operate like the federal personal income tax except that they do not apply to low income people.
O c. bring in approximately 20% of federal tax revenue.
O d. operate like sales taxes but are applied only to specific goods and services.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3f1a3e58-e77c-4795-a8d2-907d892029ed%2Fc0e5a0a2-76b3-45f9-9a61-edc4bd334e47%2Fn89z6t.png&w=3840&q=75)
Transcribed Image Text:Excise taxes
Select one:
O a bring in approximately 50% of state and local tax revenue.
O b. operate like the federal personal income tax except that they do not apply to low income people.
O c. bring in approximately 20% of federal tax revenue.
O d. operate like sales taxes but are applied only to specific goods and services.
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