Asked by Teigan Catlin on Jun 30, 2024
Verified
In 2018, personal income taxes contributed what percentage of total federal tax revenues in the U.S.?
A) about 50 percent
B) between 60 percent and 70 percent
C) about 33 percent
D) around 90 percent
Personal Income Taxes
Taxes imposed on individuals' income by the government, including wages, salaries, and investment earnings.
Federal Tax Revenues
The income earned by the government through all types of taxes, including income, payroll, and excise taxes, used to fund public services and operations.
- Comprehend the structure of federal tax revenues by source and the significance of these sources.
Verified Answer
ZK
Zybrea KnightJul 03, 2024
Final Answer :
A
Explanation :
In 2018, personal income taxes accounted for about 50 percent of total federal tax revenues in the U.S., making it the largest single source of federal revenue.
Learning Objectives
- Comprehend the structure of federal tax revenues by source and the significance of these sources.