1. Briefly state Adam Smith’s four requirements for a good tax system. 2. Based on the discussion in

1. Briefly state Adam Smith’s four requirements for a good
tax system.

2. Based on the discussion in the chapter, evaluate how well
each of these taxes meets Adam Smith’s four requirements:

a. Income tax

b. Employment taxes

3. Based solely on the definitions in the chapter, is the
Social Security tax a proportional, regressive, or progressive tax? Explain,
and state how the tax might be viewed differently.