Income Amount of tax 10,000 1,000 50,000 10,000 100,000. 30,000 calculate the percentage of income paid in tax. Is this an example of a progressive, regressive or proportional tax? Explain.

Q: What is tax system? Define and explain in your own words.

A: Taxation is the process by which a taxing authority, usually a government, imposes a financial…

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: why is the tax rate 6?

A: A pigouvian tax will be optimal when it is set equal to marginal social pollution cost at the…

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: Analyze taxes on tobacco through the perspective of: a. a smoker b. a cigarette firm

A: In an economy, when taxes are imposed on buyers or sellers, there will be different impact due to…

Q: Supply of a good is more elastic than the demand for the good. Who will bear the larger burden of…

A: Taxation refers to per unit tax imposed by the government of the country on some particular goods or…

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: some economists have argued that corporate taxes should be eliminated and only individuals should be…

A: Corporate taxes are taxes which are imposed on income of corporation or company.It is likely to br…

Q: 1. What are the Five most common Types of Taxes? Give Examples.

A: Tax alludes to a mandatory financial charge or duty forced by an administration on people or…

Q: Within the context of taxation policy, many economists have preferred the use of consumption tax to…

A: The income tax is the tax that is levied on the income of the people directly. It is collected,…

Q: Government collects the largest percentage of its revenue in which of the following ways?

A: Taxes refer to the monetary payment made to the government of a nation on the purchase or sale of…

Q: Give a brief example of proportional tax system

A: Depending upon the relationship existing between the rate of structure of taxes and income or wealth…

Q: Compare progressive, regressive, and proportional taxes. Give at least oneexample of each type of…

A: A proportional tax is the one in which a fixed percentage of tax is imposed on the income of all the…

Q: then tax revenue for the

A: Due to tax imposed , govt moved the market from market equilibrium to social optimum  That is at…