Which types of taxes account for over half of government revenues?

The option indicating that sales, property, and income taxes account for over half of government revenues is correct because these three types of taxes are the primary sources of revenue for most levels of government.

Sales taxes are levied on the sale of goods and services and provide significant funding, particularly for state and local governments. Property taxes, which are based on the value of real estate, are a stable and reliable source of revenue for local municipalities, funding essential services such as education, public safety, and infrastructure. Income taxes, particularly at the federal and sometimes state level, contribute a substantial portion to total government revenues, as they are based on individual and corporate earnings.

Together, these taxes form a broad base that enables governments to fund a variety of public services, making them a crucial component of government financing. In many jurisdictions, the combination of these three tax types indeed accounts for more than half of total government revenues, emphasizing their importance in fiscal policy and budget planning.