What are the four major considerations given to adopting a revenue source known as the principles of taxation? Describe what they are and their purpose.

What is the concept of tax equity? Describe the various factors that must be considered when determining tax equity.

What are progressive taxes and regressive taxes? Why are sales taxes considered regressive?

Provide three examples of goods subjected to selective sales taxes. Describe the public purpose goals of the selective sales tax for each of these items.