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Congress Has the Power to "Lay and Collect Taxes

question 417

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Congress has the power to "lay and collect Taxes." When the Supreme Court reviews the taxing activity of Congress, it:


Definitions:

Consumption

The use of goods and services by households.

National Income

The total value of all goods and services produced by a country's economy over a specific period, including foreign income.

Disposable Income

The amount of money an individual or household has to spend or save after income taxes are deducted.

Real GDP

A measure of a country's economic output that accounts for changes in the price level, adjusting for inflation or deflation to reflect the true value of goods and services produced.

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