The Fact That the Tax Code in the United States

question 40

Multiple Choice

The fact that the tax code in the United States is more advantageous to wealthy citizens than that of almost any other Western nation supports the claim that Americans

• A)strongly reject the ideal of popular sovereignty.
• B)strongly endorse the ideal of equality of opportunity.
• C)generally tolerate economic inequality.
• D)believe in majority rule with minority rights.

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Definitions:

Excise Tax

A tax levied on specific goods, services, or transactions, often imposed on alcohol, tobacco, and gasoline.

Supply Curve

A graphical representation showing the relationship between the price of a good and the amount of it that suppliers are willing to produce and sell.

Perfectly Inelastic

A scenario where the demand for a good does not change in response to changes in price, represented by a vertical demand curve.

Excise Tax

A tax charged on specific goods, such as tobacco and alcohol, usually to discourage their use and generate revenue.