For About the Past 45 Years, State and Local Taxes

question 42

True/False

For about the past 45 years, state and local taxes have remained relatively constant as a percentage of GDP.

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Definitions:

U.S. Cabinet

A group of the most senior appointed officers of the executive branch of the U.S. government, typically heads of federal executive departments.

Age Discrimination in Employment Act

A U.S. federal law designed to protect employees and job applicants 40 years of age and older from age-based discrimination in the workplace.

Fringe Benefits

Additional benefits supplementing an employee's salary, which could include health insurance, pensions, and paid time off, among others.

Early Retirement Incentives

Programs or benefits offered by employers to encourage employees to voluntarily retire before the traditional retirement age, often as a cost-saving measure or to refresh the workforce.