Replacing the personal income tax with a consumption tax would:
A. favor wealthy and high income individuals.
B. favor poor and low income individuals.
C. increase overall federal revenues from taxation.
D. favor all taxpayers equally, regardless of their personal wealth.
Answer:A
Replacing the personal income tax with a consumption tax would:
A. favor wealthy and high income individuals. B. favor poor and low income individuals. C. increase overall federal revenues from taxation. D. favor all taxpayers equally, regardless of their personal wealth.