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Consumption tax: Quiz

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Question 1: However it can also be structured as a form of direct, personal taxation: as an ________ that excludes investments and savings.
Progressive taxTax havenIncome taxPayroll tax

Question 2: Timing the taxation in this way is much like a ________.
2005Individual Retirement Account2010Roth IRA

Question 3: Many economists and tax experts favor consumption taxes over income taxes for ________.
Economic growthEconomic inequalityEconomicsAustrian School

Question 4: Many proposed consumption taxes share some features with the current ________ systems.
Tax havenPayroll taxIncome taxProgressive tax

Question 5: [5] In the ________ (No. 21), Hamilton wrote:
Alexander HamiltonUnited States ConstitutionJames MadisonFederalist Papers

Question 6: A consumption tax is a ________ on spending on goods and services.
ExciseTax havenIncome taxTax

Question 7: ________, one of the two chief authors of the anonymous Federalist Papers, favored consumption taxes in part because they are harder to raise to confiscatory levels than incomes taxes.
James MadisonJohn JayAlexander HamiltonGeorge Washington

Question 8: It usually takes the form of an indirect tax, such as a sales tax or ________.
Tax havenTax rates around the worldFlat taxValue added tax

Question 9: But if, like in an ________ (IRA), this person can defer taxation on these savings, he will have $8 after 24 years, taxed only once at 33%, leaving $5.33 to spend on her retirement.
Taxing and Spending ClauseIndividual Retirement AccountInternal Revenue CodeCost basis

Question 10: ________
Tax revenue as % of GDP
Tax rates around the worldTax havenGovernment budget by countryValue added tax







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