AND SOLUTIONS 2026 FULL SOLUTION
GRADED A+
◍ Tax elasticity is highest for Answer: Personal income taxes
◍ Government debt cannot exceed Answer: $200,000
◍ Taxes that are earmarked Answer: Must be spent on a specific thing
◍ The governor in Texas can influence the states budget by Answer:
Using the line item veto
◍ What would be necessary to get a personal income tax in Texas?
Answer: Majority vote of the public
◍ Over the past ten years the portion of the states revenues taken
from severance taxes Answer: Has gone down
◍ The sales tax is generally considered Answer: A regressive tax
◍ When it come to tax stability, the Texas tax system Answer: Is
considered very unstable