Here are some questions about the basics of taxation in the US:

(a) How does the individual income tax differ from the payroll tax in the US? [4 points]

(b) Compared to other developed countries, does the US collect a larger or smaller proportion of tax revenue from labor market earnings? When answering the question, consider the "US" as the combination of all levels of government (e.g., federal, state, and local). [4 points]

(c) Compared to other developed countries, does the US collect a larger or smaller proportion of tax revenue from the sales of goods and services? When answering the question, consider the "US" as the combination of all levels of government (e.g., federal, state, and local). [4 points]

(d) Besides the individual income, payroll, and sales/excise taxes, what aretwo other major sources of tax revenuein the United States? [4 points]

(e) Is the following statement true or false? Provide an explanation to defend your answer. [5 points]

"Assume that Dr. Y was in an income tax bracket that had a marginal tax rate of 24% during Tax Year 2023. This means that Dr. Y paid 24% on all taxable income that he earned in 2023."