Final answer:
U.S. taxes are true to have objectives beyond raising revenues; they aim to achieve economic and social goals such as redistributing income and discouraging undesirable behaviors.
Step-by-step explanation:
In response to the question about the objectives of specific U.S. taxes, the answer is true. Taxes in the U.S. are designed not only to raise revenues to fund various government services such as military, police, and education but also to achieve economic or social objectives.
For instance, progressive income taxes are implemented to create a more equitable tax system by imposing higher rates on higher income tiers, which helps in reducing income and wealth inequalities. Similarly, taxes on goods like tobacco and alcohol, known as sin taxes, are utilized to disincentivize undesirable behaviors and thereby address social issues.
Government economic policies at different levels affect employment, output, and price levels, reflecting the significant impact taxes have on resource allocation, consumer behavior, and the nation's productivity and growth. Strategically designed tax systems are aimed at fulfilling the necessary goal of raising revenue while striving to minimize the extent of distortion in people's decisions to maintain economic efficiency.