Besides the fact that the elderly are often on fixed incomes can you think of another reason why most local taxing authorities grant homeowners aged 65 and older school tax exemptions?
What will be an ideal response?
Typically a school tax would fit under the benefits-received principle of taxation. However, the elderly are not likely to have school-age children living at home. Therefore the benefits-received principle is weakened in this case.
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The shifts of the short-run and long-run Phillips curves in the figure above are the result of
A) an increase in the expected inflation rate. B) an increase in the natural unemployment rate. C) a decrease in the natural unemployment rate. D) an increase in the actual inflation rate. E) a decrease in the expected inflation rate.
Before the creation of the European Economic Community, there was the
A) European Economic Union. B) European Coal and Steel Community. C) European Union. D) European Free Trade Area. E) Single European Community.