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What are the principles that lawmakers should follow in

1. What are the principles that lawmakers should follow in setting up taxes?

2. Explain the three types of tax structure with respect to income.

3. Which of the three types of tax structure is most fair in your opinion and explain why?

4. When an excise sales tax is collected, what happens on the demand and supply of the product?

5. Is there any efficiency loss when an excise sales tax is iimposed, explain?

6. What are the primary source of revenue for the Federal governmnet and what is the largest part of the spending at the Federal leevel?

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