Which of the following statements is correct?
A)National defense and health are the two largest spending categories for the federal government.
B)Welfare programs and highways are the two largest spending categories for state and local governments.
C)Sales taxes and property taxes are the two most important revenue sources for state and local governments.
D)Corporate income taxes are the largest source of revenue for the federal government.

Question

Quizplus · Accepted Answer

Sales taxes and property taxes are the two most important revenue sources for state and local governments. National defense and health are two important spending categories for the federal government, but not necessarily the largest. Welfare programs and highways may be important spending categories for state and local governments, but not necessarily the largest. Corporate income taxes are not the largest source of revenue for the federal government; individual income taxes are.

Which of the Following Statements Is Correct