Give a brief example of regressive tax system

Q: Explain marginal tax rate.

A: 1-The marginal tax rate is the additional/extra tax rate paid for every additional/extra income…

Q: A government collects 700B in tax revenue. It allocates $40B to the justice system and $95B for its…

A: The revenue that is collected by the government from property ownership and transfer taxes, income…

Q: 1.) Who bears the burden of property taxes ? Explain the incidence of property tax 2.) Who bears the…

A: PROPERTY TAX As a real estate ad valorem tax, property tax can be considered a regressive form of…

Q: Define progressive tax.

A: A tax refers to an amount imposed on the person, commodities or any other item to earn revenue for…

Q: Which of the following is a source of Federal Revenue?     A. Personal Income Tax   B. Payroll Tax…

A: Federal Government makes expenditure and for meeting the needs of expenditures, federal government…

Q: What is direct tax and indirect tax? Give example. How does taxation helps in fiscal development?

A: Direct Tax A direct tax, to put it simply, is one which you pay to the taxing authority directly.…

Q: Define the term Marginal Tax Rate?

A: Marginal tax rate is the rate at which tax is incurred on an extra dollar of income. In United…

Q: What are some of the other realistic options for funding the government other than taxation?

A: One of the most common ways for governments to raise funds other than taxation is through borrowing.…

Q: The following table shows the amount of tax paid in three countries X, Y and Z. Identify the type of…

A: Tax structure refers to how taxes are levied on individuals or entities based on their income,…

Q: Based on the following data: Taxable income ($) Total tax ($) 1500 5 2500 110 3000 200 4500 400 5000…

A: Taxes are compulsory payment which are made by individuals or institutions to the government without…

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: What are the main categories of U.S. federal government taxes?

A: Taxes are the major source of revenue of government. Government collects taxes from the public and…

Q: Explain tax abatements and how are they different from tax expenditures?

A: It affects the application of a credit to the whole taxes owed. Though circumstances may change,…

Q: Percent of Income Paid in Total amount Income Tax of Tax Paid Family $10,000 20% $2,000 A Family…

A: Here, there are three families having different income levels and paying the same tax rate. A income…

Q: $4,00060, 00024,000.0060,000$6,000Complete the following table by deriving the marginal tax rates in…

A: Information on the income tax systems in two hypothetical countries:Country ACountry BTaxable income…

Q: Differentiate between Direct and indirect taxes: Type this question in the form of topic paragraph.

A: Answer: The distinction between direct and indirect taxes is formed based on whether the tax burden…

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: Tax rate rise when the income of the consumer rise in case of progressive tax system.  True/False

A: We have different types of tax system depending upon how the tax rate behaves with change in income.…

Q: 3. What is the major tax break for homeowners? Why does the tax benefit increase with income?

A: 3) A tax break is a type of tax benefit or a tax concession provided by the government to encourage…

Q: What are the classification of taxes? And please describe and explain each

A: Taxes are the payment which households made to government of country . It is a compulsory payment…

Q: What is the relative importance of taxation to the economy of the country? Discuss clearly the…

A: A tax is a governmental organization's mandatory financial payment or other forms of levy levied on…

Q: What is the equity principle behind benefit-based excise taxes?

A: A tax is a mandatory payment made by individuals and companies to the government based on some…

Q: ) What type of taxation does a Sole proprietorship have? Single or double B) What type of taxation…

A: Answer is given below

Q: What is a progressive income tax?

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

Q: What are the main categories of government spending? What are the main categories of government…

A: Government spending is the fund spend by the government on the various sector of society. It has the…

Q: he following table shows tax payments made for various incomes. According to the information in the…

A: The following problem has been answered as follows:

Q: A regressive tax A. ​imposes a greater burden on those with higher incomes than on those with lower…

A: A regressive tax is the tax based on income.  The regressive tax is inversely proportional to…

Q: Define Taxation What is Income tax What is a value-added tax What is Sales tax What is an excise…

A: Taxation is the practice of levying fees on people or entities in order to raise money for the…

Q: Under which type of taxation do you pay a higher percentage the more money you make? A Progressive B…

A: Taxation refers to the process through which a government or taxation body imposes or levies a tax…

Q: Which of the following taxes is most likely to be regressive? Multiple Choice O O O Estate taxes…

A: A regressive tax is a type of tax where the tax rate decreases as the income or wealth of the…

Q: Explain how an increase in tax can reduce tax revenue of a government

A: Tax is the major source of revenue for the government. The major government spending is funded from…

Q: if tax revenue decreases what would be the effect on maryland

A: The question is asking about the potential effects on the state of Maryland if there is a decrease…

Q: A tax that takes a smaller percentage of an individual's income as their income rises is called a a.…

A: Tax are the mandatory charge levied by the government.  There are two types of tax:- direct tax and…

Q: Identify whether each of the following taxes is progressive or regressive. a. Personal income tax:…

A: A progressive tax is defined as a tax rate that increases with an increase in the taxable income of…

Q: The U.S. federal income tax is an example of a _______________ income tax. a. regressive  b.…

A: Income tax is a tax that is charged on the income of individuals, businesses, and other entities.…

Q: 3)  Are excise taxes, like those on tobacco, gasoline, and alcohol, Progressive, Proportional, or…

A: Regressive tax imposes more burdens on poor households than the rich ones because it is same…

Q: What will happen to the amount of taxes collected by the government during a recession when there is…

A: please find the answer below.

Q: Use the information in the table to answer the following question Income Amount of % of Income Tax…

A: There are three types of tax: 1. Progressive  2. Regressive  3. Proportionate

Q: A tax that takes a smaller percentage from high-income earners than it does from low-income earners…

A: There are different types taxes, regressive, progressive and proportional

Q: Use Table A below to complete Table B a. Define a progressive, proportional and regressive tax…

A: The tax is the compulsory payment which is made by the citizens to the government. The tax would…

Q: Define net taxes.

A: A payment that is compulsory and is levied by the Government to fund the expenditures of the state…

Q: Describe Progressive taxation. And Regressive taxation

A: Taxation is the process by which a government or other authority collects money from individuals and…