If their only concern were the cost of issuing municipal debt, how would you expect the mayors of most U.S. cities to respond to a revenue-neutral change in the federal income tax that sharply lowered the top marginal tax rate?

Q: What are some examples of goods subject to selective sales taxes?

A: Selective sales taxes are those taxes levied on specific goods and services, instead of on a broad…

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 personal income and payroll taxes are already too high. I think business should share A larger…

A: Big firms or corporates are powerful players in the market that tends to affect the market prices in…

Q: what are the ultimate effects to society of shortfalls of tax collection

A: The shortfalls of tax collection lead to a decrease in public spending which leads to a decrease in…

Q: Explain the inherent limitation that the power of taxation is an inherently legislative function

A: When a taxing agency, generally a government, levies or imposes a financial burden on its residents…

Q: Write an essay about:

A: ANSWER STEP-1 Companies and employees in urban center fancy a number of very cheap taxes within the…

Q: Why is deadweight loss disagreed on by experts? Explain.

A: Deadweight loss: It is a cost which is paid to the society in which is created by market efficiency.…

Q: What is wrong with this answer?

A: The correct answer is No one would have an incentive to work once they had earned $200,000, so…

Q: Now suppose that the price elasticity of demand is 1, price elasticity of supply is 2, and a 25 %…

A: Elasticity is defined as the response to a price change in the supply and demand of a product.…

Q: Critically evaluate the impending rise of sales tax planned by the Japanese government and its…

A: The authorized (GDP) gross domestic product sculpture though was more diminutive than the 7.1% drop…

Q: Describe in detail how taxes impact consumer and producer surplus. In your discussion, also show…

A: Taxation is the cycle by which a government or other taxing power powers a financial charge or duty…

Q: Given the recent push and pull between state and federal power, what do you think this means for…

A: Federalism can be defined as the structure of government in an economy in which power and…

Q: The federal government currently uses many forms of taxation, both direct and indirect, to raise…

A: Direct taxes are taxes that are imposed on natural persons and they are based on the taxpayer’s…

Q: Suppose demand is represented by P = 100 - 2Q, and supply is represented by P = 5 + 3Q. If the…

A: The equilibrium is established where the demand and supply forces are equal.

Q: suppose Lena makes $50000 per year and Mariah makes $65000 per year. If each pays $5000 in taxes:…

A: - Proportional: Everyone pays the same percentage of their income in taxes.- Progressive:…

Q: What are non-tax sources of public revenue?

A: Money from taxes and goods and services provided by public companies, revenue from administrative…

Q: Why do legislators vote for spending projects in districts that are not their own?

A: The practice of legislator slipping funded for a local project within a budget is referred to as…

Q: What are some ways congress has reacted to the expansion of presidential power?

A: To find : Ways congress has reacted to expansion of presidential power.

Q: i. The elasticity of demand for beer in country A is 1.8 and the elasticity of demand for beer in…

A: The elasticity of demand for a beer in country B is 1.8The elasticity of demand for beer in country…