Consider the following categories of taxes: I. wealth tax II. consumption tax III. Direct tax IV. Indirect tax Using the above categories only, an estate tax can be considered to be:

Q: 1. Which of the following is an example of govemment discretionary spending:  A) Social Security…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: The table below describes three tax systems (A, B, and C) for three income levels. Tax system A Tax…

A: (a) Tax System A:i) Percentage of income= 2,00020,000×100=10%ii) Percentage of…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A:

Q: 3er the following hypothetical income tax brackets for a married couple Assume for simplicity there…

A: Income Tax Rate $0-$20,000 10% $20,000-$50,000 20 $50,000-$100,000 35 Over $100,000 50…

Q: True or False: Pensions and income security make up the largest share of federal expenditures.

A: The expenditure of the economy is divided in two parts which are state and central government…

Q: Answer all the questions! 1. What has been the relationship over the past century between the…

A: The term "government revenue" describes the funds that a government receives from a variety of…

Q: 2. Explain the Structure of the Individual Income Tax in the United States. Give Example.

A: The individual income tax in the united states of america is a modern tax system, that means that…

Q: The Federal Government brings in revenue through taxation in all of the following forms EXCEPT:   A.…

A: The federal government does not primarily depend on sales and property taxes to generate sales.…

Q: 38.Explain why economists today tend to favor a comprehensive personal consumption tax.

A: Tax can be defined as the revenue for the government collected from the income or profit that an…

Q: 4. Which of the following taxes satisfy the benefits-received principle, and which satisfy the…

A: benefits-received principle: The benefits-received principle is a principle of taxation that shows…

Q: Which tax system requires higher-income taxpayers to have lower tax rates, even though they pay a…

A: Considering a broad category, there are 3 types of taxes:- Regressive, progressive and proportional.…

Q: 1. Which of the following is an example of govemment discretionary spending A) Social Security…

A: The term "budget" refers to the official government document that lists all of the potential revenue…

Q: Amount of Tax Due Income Tax Schedule Tax Schedule Tax Schedule Tax Schedule A D $50,000 $10,000…

A: In a market, differ types of tax system are used for different commodities. A regressive tax is one…

Q: The federal government spends ____.     slightly more on defense than Social Security     slightly…

A: The federal government spends money on Social Security, defense, Medicare and other mandatory…

Q: What effect does implementing a progressive tax system have on income inequality in a country? A. It…

A: A progressive tax system is one in which the tax rate increases as the taxable amount increases. It…

Q: ​A progressive tax is: A. ​designed to take a greater percentage of the income of lower-income…

A: Progressive means the one which increases with it's variable.  This means progressive tax is the tax…

Q: Consider the following hypothetical income tax brackets for a married couple. Assume for simplicity…

A: Tax is the compulsory levy which is imposed by the government. There is no quid pro quo associated…

Q: 1.A progressive tax: A. takes a smaller share of the income of high-income taxpayers than of…

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: $10,000 of income and a marginal rate of 5% on the second $10,000 of income. You make $18,000 a vear…

A: The marginal tax rate is the tax rate you pay on an additional dollar of income. Here, we calculate…

Q: A progressive tax system implies that the proportion of income paid to taxes rises as income…

A: A progressive tax is one that is based on the ability of the taxpayer to pay.

Q: The public welfare spending category for state and local governments includes many programs that are…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: 17. Which of the following statements applies to the Social Security program?  A. Benefits are paid…

A: An initiative of the federal government, Social Security offers economic support to disabled…

Q: Complete the table and answer the following questions. Before-Tax Income After-Tax Income Tax Rate…

A: Completion of first given table:-     Before Tax Income($) Tax Rate Tax Paid($) After Tax Paid($)…

Q: Which of the following is a significant revenue source for state and local governments, but not the…

A: The tax is a unilateral payment made by the public towards the government for various purposes. The…

Q: 5. The tax system is used to reduce income inequality through the use of _____ taxes. Select one:…

A: We know that Tax is the amount that is charged by the government from an individual or an…

Q: 24. The change in the Taxes on corporate income, from 4th quarter of 2017 to the 4th quarter of 2019…

A: This concept can be defined as a type of tax that is paid by the business or organization to the…