4. In year 5. taxpayers with adopted children protest the fact that the additional exemptions are only for children born to the taxpayer", so Fantasin passes a law making the exemption available to my child in the custody of the taxpayer who was born in year 2 or thereafter". Which type of tax policy goal does this action represent? Socio-economic engineering b. Horizontal Equity c. Revenue Raising d. Administrability Efficiency 5. In year 6, the leftist party is elected to Fantasia's parliament and they pass a new reverse law mposing a 20% on wage income in excess of $50,000. Which type of tax policy goal does this action represent a Socio-economic engineering b. Horizontal Equity c. Administrability Efficiency d. Progressive Principle 6. Generally, what represents the greatest reduction in tax liability An above the line deduction worth $100 b. A below.the line deduction worth $100 c. Acredit worth $100 7. All of the following generally have the force of law except 1. The Constitution b. Title 26 of the United States Code Treasury Regulations d. Revenue Ruling 8. Alex exchanges his prized farmland worth 500,000 for fertilizer equipment worth $40,000 and a delivery trick worth $20.000. At the time of the exchange, Alex's basis in the farm land is 530,000. What is Alex's Amount Realized $30,000 1.540,000 c. 560,000 d.590.000