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Which statement is not correct? Functional groups are
Payroll Taxes
Taxes imposed on employers and employees, calculated as a percentage of the salaries that employers pay to their staff.
Personal Income Taxes
Taxes imposed on individuals or households based on the income they earn over a certain period, often progressive in nature.
Federal Government Expenditure
The total amount of money spent by the federal government on various programs, services, and obligations.
Social Security Payments
Government transfers to eligible retirees, disabled workers, and survivors to provide them with income support.
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