Author Question: President Reagan backed a sweeping tax reform that reduced the number of brackets. By eliminating ... (Read 56 times)

fagboi · **on:** Sep 3, 2018

President Reagan backed a sweeping tax reform that reduced the number of brackets. By eliminating many tax brackets, the new tax policy approached the idea of a flat tax which means that

A) the wealthy pay a lower tax.
B) the poor pay a lower tax.
C) the wealthy pay a higher tax.
D) everyone pays at the same rate.
E) the poor pay a higher tax.

Question 2

Which of the following taxes is NOT a major source (as in over 10 percent) of the federal government's revenue?

A) individual income taxes
B) social income taxes
C) corporate income taxes
D) sales taxes
E) federal income taxes