Exam 13: Taxing and Spending

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In 1911, Wisconsin became the first state to implement a personal income tax, which was several years before the federal government enacted its own personal income tax.

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State lotteries are

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Most experts agree that among the most important criteria to evaluate taxes are the fundamental principles of

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Every state except Vermont is constitutionally or statutorily mandated to balance its budget each fiscal year.

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Many criteria can be used to evaluate taxes. Explain three of the most commonly agreed upon criteria. Then use the sales tax, property tax, personal income tax, and lottery to illustrate how these criteria might apply in each instance.

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Own-source revenues refer to monies derived by a government from its own taxable resources.

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The fiscal problems facing states and local governments today are not short term-they are systemic. Revenue systems are archaic. Some programs are underfunded, while others may have outlived their value but still hang on. Voters want services but often refuse to approve the resources necessary to pay for them. You are running for governor and writing your campaign platform on the principle of transparency and honesty. What do you say?

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High-tax capacity is associated with

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Personal and corporate income taxes are

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The principal and interest payments on revenue bonds are secured by the fees or charges imposed on the users of a facility run by a state or local government entity managing the facility.

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Casino gambling and slot parlors are now offered in about forty states.

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In 1978, California voters passed Proposition 13, which significantly cut property taxes and is credited with kicking off a taxpayer revolt across the nation.

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Which of the following taxes are considered the most equitable?

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The need to increase state and local capacity and responsiveness by reinventing and reinvigorating government has perhaps never been greater.

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In terms of total state and local government spending, the single largest category of spending currently is

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