Taxes: (1) individual income tax (fed+state), (2) payroll taxes on earnings (fed, funds Social Security+Medicare), (3) corporate income tax (fed+state), (4) sales taxes (state)+excise taxes (state+fed), (5) property taxes (state) B) Means-tested Transfers: (1) refundable tax credits (fed), (2) in-kind transfers (fed+state): Medicaid, public housing, nutrition (SNAP), education, (3) cash welfare: TANF for single parents (fed+state), SSI for old/disabled (fed) 3 FEDERAL US INCOME TAX US…
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