Professional Documents
Culture Documents
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© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
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Chapter 01 - Taxes and Taxing Jurisdictions
8. The U.S. government has jurisdiction to tax individuals who are not U.S. citizens but who are
permanent U.S. residents.
True False
9. A tax with a graduated rate structure must have at least two brackets of tax base.
True False
13. Ad valorem property taxes are the major source of revenue for local governments.
True False
14. Taxes on personal property are more difficult to administer and enforce than taxes on real
property.
True False
15. A state government may levy either a sales tax or a use tax on consumers but not both.
True False
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© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Chapter 01 - Taxes and Taxing Jurisdictions
16. Sellers of retail goods are responsible for collecting sales tax from their customers and
remitting the tax to the state government.
True False
17. Purchasers of consumer goods through the mail are responsible for paying use tax on goods
for which sales tax was not collected by the seller.
True False
18. The majority of state governments raise revenue from both personal and corporate income
taxes.
True False
19. The federal government imposed the first income tax to raise money to fight the War of
1812.
True False
20. The U.S. Constitution gives the federal government the power to impose a tax on income
from whatever source derived.
True False
21. The federal government collects more revenue from the corporate income tax than from the
individual income tax.
True False
22. The federal government does not levy property taxes or a general sales tax.
True False
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© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Chapter 01 - Taxes and Taxing Jurisdictions
23. A business that operates in more than one state is required to pay state income tax only to
the state in which it is incorporated.
True False
24. The potential for conflict among taxing jurisdictions is greatest for businesses operating on
a global scale.
True False
25. Less than half of the state governments depend on gambling as a source of revenue.
True False
26. Businesses that sell over the internet must collect sales tax only from purchasers living in a
state in which the business has a physical presence.
True False
27. The Internal Revenue Code is written by the Internal Revenue Service.
True False
28. Treasury regulations are tax laws written by the Treasury Department.
True False
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© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
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future as they have been in the past, if you so will it. The reverse may
bring disaster on every portion of the country; and if you will have it
thus, we will invoke the God of our fathers, who delivered them from
the power of the lion, to protect us from the ravages of the bear, and
thus, putting our trust in God, and to our firm hearts and strong
arms we will vindicate the right as best we may.
In the course of my service here, associated at different times with
a great variety of Senators, I see now around me some with whom I
have served long; there have been points of collision, but whatever of
offense there has been to me I leave here; I carry with me no hostile
remembrance. Whatever offense I have given which has not been
redressed, or for which satisfaction has not been demanded, I have,
Senators, in this hour of our parting, to offer you an apology for any
harm which, in the heat of discussion, I have inflicted. I go hence
unencumbered of any injury received, and having discharged the
duty of making the only reparation in my power for any injury
offered.
Mr. President and Senators, having made the announcement
which the occasion seemed to me to require, it only remains for me
to bid you a final adieu.
Speech of the Hon. Henry Wilson of
Massachusetts
AN ABSTRACT.
Sir, the great conflict now raging in the Old World has presented a
phenomenon in military science unprecedented in the annals of
mankind, a phenomenon that has reversed all the traditions of the
past as it has disappointed all the expectations of the present. A great
and warlike people, renowned alike for their skill and valor, have
been swept away before the triumphant advance of an inferior foe,
like autumn stubble before a hurricane of fire. For aught I know the
next flash of electric fire that simmers along the ocean cable may tell
us that Paris, with every fibre quivering with the agony of impotent
despair, writhes beneath the conquering heel of her loathed invader.
Ere another moon shall wax and wane, the brightest star in the
galaxy of nations may fall from the zenith of her glory never to rise
again. Ere the modest violets of early spring shall ope their
beauteous eyes, the genius of civilization may chant the wailing
requiem of the proudest nationality the world has ever seen, as she
scatters her withered and tear-moistened lilies o’er the bloody tomb
of butchered France. But, sir, I wish to ask if you honestly and
candidly believe that the Dutch would have overrun the French in
that kind of style if General Sheridan had not gone over there, and
told King William and Von Moltke how he had managed to whip the
Piegan Indians.
And here, sir, recurring to this map, I find in the immediate
vicinity of the Piegans “vast herds of buffalo” and “immense fields of
rich wheat lands.” [Here the hammer fell.]
[Many cries: “Go on!” “go on!”]
The Speaker—Is there any objection to the gentleman from
Kentucky continuing his remarks? The chair hears none. The
gentleman will proceed.
Mr. Knott—I was remarking, sir, upon these vast “wheat fields”
represented on this map in the immediate neighborhood of the
buffaloes and Piegans, and was about to say that the idea of there
being these immense wheat fields in the very heart of a wilderness,
hundreds and hundreds of miles beyond the utmost verge of
civilization, may appear to some gentlemen as rather incongruous, as
rather too great a strain on the “blankets” of veracity. But to my mind
there is no difficulty in the matter whatever. The phenomenon is very
easily accounted for. It is evident, sir, that the Piegans sowed that
wheat there and ploughed it in with buffalo bulls. Now, sir, this
fortunate combination of buffaloes and Piegans, considering their
relative positions to each other and to Duluth, as they are arranged
on this map, satisfies me that Duluth is destined to be the best
market of the world. Here, you will observe, (pointing to the map),
are the buffaloes, directly between the Piegans and Duluth; and here,
right on the road to Duluth, are the Creeks. Now, sir, when the
buffaloes are sufficiently fat from grazing on those immense wheat
fields, you see it will be the easiest thing in the world for the Piegans
to drive them on down, stay all night with their friends, the Creeks,
and go into Duluth in the morning. I think I see them, now, sir, a vast
herd of buffaloes, with their heads down, their eyes glaring, their
nostrils dilated, their tongues out, and their tails curled over their
backs, tearing along toward Duluth, with about a thousand Piegans
on their grass-bellied ponies, yelling at their heels! On they come!
And as they sweep past the Creeks, they join in the chase, and away
they all go, yelling, bellowing, ripping and tearing along, amid clouds
of dust, until the last buffalo is safely penned in the stock-yards at
Duluth.
Sir, I might stand here for hours and hours, and expatiate with
rapture upon the gorgeous prospects of Duluth, as depicted upon this
map. But human life is too short, and the time of this house far too
valuable to allow me to linger longer upon this delightful theme. I
think every gentleman upon this floor is as well satisfied as I am that
Duluth is destined to become the commercial metropolis of the
universe and that this road should be built at once. I am fully
persuaded that no patriotic representative of the American people,
who has a proper appreciation of the associated glories of Duluth and
the St. Croix, will hesitate a moment that every able-bodied female in
the land, between the ages of eighteen and forty-five, who is in favor
of “woman’s rights,” should be drafted and set to work upon this
great work without delay. Nevertheless, sir, it grieves my very soul to
be compelled to say that I cannot vote for the grant of lands provided
for in this bill.
Ah, sir, you can have no conception of the poignancy of my
anguish that I am deprived of that blessed privilege! There are two
insuperable obstacles in the way. In the first place my constituents,
for whom I am acting here, have no more interest in this road than
they have in the great question of culinary taste now, perhaps,
agitating the public mind of Dominica, as to whether the illustrious
commissioners, who recently left this capital for that free and
enlightened republic, would be better fricasseed, boiled, or roasted,
and, in the second place, these lands, which I am asked to give away,
alas, are not mine to bestow! My relation to them is simply that of
trustee to an express trust. And shall I ever betray that trust? Never,
sir! Rather perish Duluth! Perish the paragon of cities! Rather let the
freezing cyclones of the bleak northwest bury it forever beneath the
eddying sands of the raging St. Croix.
Henry Carey’s Speech on the Rates of
Interest.