The personal income tax, corporate income tax, and contributions to social insurance (Medicare and Social Security)...

The personal income tax, corporate income tax, and contributions to social insurance (Medicare and Social Security) together makes up approximately ______ of all federal government tax revenues annually (based on annual data from the period 2010-2015.)

A. 95%

B. 65%

C. 45%

D. 15%

E. 4.5%

Expert Solution

Ans: 95%

Explanation:

The share of personal income tax is approximaely 48%

The share of corporate income tax is approximaely 13%

contributions to social insurance is approximately 34%

So, total share = 48% + 13% + 34% = 95%

Rahul Sunny answered 2 years ago

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