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As Real Incomes Grow, What Happens to Federal Tax Revenues

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Essay

As real incomes grow, what happens to federal tax revenues as a share of the economy?


Definitions:

Sufficient

Adequate to meet the needs of a situation or a proposed end without needing more.

Sartre

Jean-Paul Sartre, a French existentialist philosopher, playwright, novelist, and political activist known for his explorations of freedom and existentialism.

Extreme Circumstances

Situations that are highly unusual or exceptional, often involving severe stress or urgency.

Negatively Free

A condition where freedom is defined by the absence of external constraints or limitations on one's actions, as opposed to being enabled to pursue certain goals (positive freedom).

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