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Explanation would be helpful, thanks. Question 9 3.33 pts U Choose the best answer about government spending in the US. The state and local spending
Explanation would be helpful, thanks.
Question 9 3.33 pts U Choose the best answer about government spending in the US. The state and local spending represent about 2/3 of all government spending Over the last 60 years, federal government spending has shifted more toward health care and social security with less spending on defense, education and welfare. Over the last 60 years, federal government tax receipts have shifted away from payroll taxes (payroll taxes are the personal and employer contributions to Social Security and Medicare each month) and more toward corporate taxes. The largest source of state and local taxes come from income taxes followed by property taxes. Sales taxes are a very small amount of taxes collected at the state and local levels. Question 10 3.33 pts Clearly deficits add up over time government debt. Choose the best answer about recent years State and local governments run significant deficits Federal government deficits are much lower than deficits run by state and local governments A majority of state/local spending is on health and education spending o Welfare and social services spending has increased dramatically over the last 60 years. Question 11 3.33 pts An example of payroll taxes Payroll taxes are the same as corporate taxes which rise with corporate profit Payroll taxes include social security retirement benefits contributions and include payment for Medicare that provides health insurance during retirement Payroll taxes include sales taxes and all taxes on retirement accounts None of the answers is correctStep by Step Solution
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