Consider Adam Smith’s canons of taxation. Identify one of his ideas and post your thought on its applicability to the current income tax system in the United States. Please post the canon of your choice, your premise, and a narrative in support of your premise. For example, if you believe the current system to be convenient or inconvenient, how and why in your opinion is it so? Discuss how the federal taxation system is driven by economic and/or social initiatives. Provide examples and explanations of a social tax initiative, and an economic tax initiative, either historically or current, and whether or not you feel the results of the original initiative has been achieved.Please provided citations as well. Thanks.