Which of the Following Gave the U

question 74

Multiple Choice

Which of the following gave the U.S.federal government the power to tax income?

• A)The Sixteenth Amendment to the Constitution.
• B)The Full Employment and Balanced Growth Act of 1978.
• C)The Social Security Act.
• D)The capital gains tax of the Bush administration.

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Definitions:

Before-Tax Distribution

Refers to the allocation of income among individuals or entities before accounting for taxes.

Personal Income Tax

a tax levied on individuals or households based on their total annual income, with the tax rate typically increasing as income increases.

Sales And Excise Taxes

Taxes imposed on the sale of goods and services (sales tax) and specific goods like gasoline, cigarettes, and alcohol (excise taxes), typically used to generate revenue for governments.

Commodity Taxes

Taxes imposed on goods, often based on their value or quantity, used by governments to generate revenue or influence market prices.