QuestionJune 3, 2025

The federal government generates revenue from which of the following consumption taxes? selective excise taxes income taxes sales taxes all of the above

The federal government generates revenue from which of the following consumption taxes? selective excise taxes income taxes sales taxes all of the above
The federal government generates revenue from which of the
following consumption taxes?
selective excise taxes
income taxes
sales taxes
all of the above

Solution
4.7(165 votes)

Answer

Selective excise taxes and income taxes. Explanation The federal government primarily generates revenue through income taxes and selective excise taxes. Sales taxes are typically levied by state and local governments, not the federal government. Therefore, "all of the above" is incorrect.

Explanation

The federal government primarily generates revenue through income taxes and selective excise taxes. Sales taxes are typically levied by state and local governments, not the federal government. Therefore, "all of the above" is incorrect.
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