Aportion of individual and corporate revenue that is paid to the government is known as
a. income tax.
b. federal debt.
c. deficit spending.
d. the federal reserve system.

The correct answer is A. A portion of individual and corporate revenue that is paid to the government is known as income tax.

Explanation:

Income tax is an internationally prevailing tax on income that is levied by a state (or a lower government body) on persons and enterprises, where each taxpayer is required to pay a certain percentage of their income to the government.

The United States of America is a special country with regard to income taxes: not only does the federal government levy income tax, but also lower government bodies such as individual states and even municipalities are allowed to levy income taxes.

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