Adam Smith's four principles of sound taxation are important at all levels of government because they

A. establish parameters for taxation that reflect standards of equality, convenience, economy, and reliability.
B. establish parameters for taxation whereby all individuals contribute equally to the support of the government.
C. establish parameters for taxation where individuals who enjoy more government benefits pay more.
D. support parameters for taxation where the bulk of funds are raised primarily from wealthy citizens.

Adam Smith's four principles are important at all levels of government because they establish parameters for taxation whereby all individuals contribute equally to government.

What are the four principles of Adam Smith?

Adam Smith stated in The Wealth of Nations in 1776 that taxation should be based on four principles:

Fairness
Certainty
Convenience, and
Efficiency.

Fairness in taxation is that it should be compatible with the circumstances of taxpayers, such as their ability to pay in accordance with personal and family needs.

The four principles of good taxation established by Adam Smith are vital at all levels of government because they set the parameters for taxation in which all persons contribute equally to the government's support.

Therefore, option B is correct.

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