Which of the following statements is not correct?
A)All states have state income taxes,but the percentages vary widely.
B)Sales taxes and property taxes are important revenue sources for state and local governments.
C)Medicare spending has increased because the percentage of the population that is elderly and the cost of healthcare have both increased.
D)A budget deficit occurs when government spending exceeds government receipts.

Question

Quizplus · Accepted Answer

Not all states have state income taxes. There are seven states in the United States that do not have state income taxes: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.

Which of the Following Statements Is Not Correct