More Than Three-Fourths of All U

question 38

True/False

More than three-fourths of all U.S. adults are either self-employed or work for businesses with fewer than 500 employees.

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Definitions:

Low-Income Taxpayers

Individuals with earnings below a certain threshold, often eligible for certain tax benefits or lower tax rates.

Vertical Equity

The idea that taxpayers with a greater ability to pay taxes should pay larger amounts.

Tax System

The structured framework within which public authorities collect taxes from individuals and companies to fund public expenditures.

Ability-To-Pay Principle

The idea that taxes should be levied on a person according to how well that person can shoulder the burden