The federal government currently uses many forms of taxation, both direct and indirect, to raise revenue. Would it not be more effective and less burdensome just to employ a single tax? What would you consider to be a more effective and efficient system of raising revenue?

Q: What do taxes pay for? Schools, government departments, roads, and emergency services…

A: Taxes is the compulsory payment which is levied by government on people or corporations. Taxes is…

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: In a response to public outcry over the Internal Revenue Service's (IRS) extent and abuse of power,…

A: Tax is defined as a compulsory financial burden imposed on citizens by the government in specified…

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

A: Taxes are the amount charged by the government for the services provided and are the means of…

Q: In a modern, industrial society, the tax system is derived from several disciplines. Identify the…

A: In the complex web of modern industrial societies like the United States, the tax system is…

Q: xplain the benefits principle and the ability-to-pay principle. What are vertical eguity and…

A: Microeconomics is the study of how people and businesses allocate resources and set prices for…

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: Write an essay about:

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

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: Name three types of taxes and analyze the deadweight loss of each.

A: Tax is cash that must be paid to the state by individuals. Tax payments were intended to provide for…

Q: Which tax is the largest source of tax revenue in the United States? personal income taxes…

A: The largest source of the tax revenue of the United States government has individual tax been since…

Q: In three sentences or less, define and explain the triple-taxation issue and how congress has…

A: When a taxation authority, which is most often a government, levies or imposes a financial…

Q: In the diagram to the right, illustrating a per-unit tax equal to P₂ minus P3, tax revenue is…

A: Equilibrium occurs when the demand curve meets the supply curve.The equilibrium quantity is Q1.The…

Q: Supply After Tax 3.50 3.00 Supply Before Tax 2.50 Price per pack (dollars) 2.00 1.50 DEMAND 1.00…

A: According to the given graph, before tax equilibrium price and quantity of cigarette was $2 and 10…

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: What are the two fundamental doctrines of tax equity?

A: Given the requirement for a specific level of revenue, which is determined by the country's larger…

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: A new elected government want to reform its tax system. As an economist you are hired to advise the…

A: When a taxing body, typically a government, levies or imposes a financial responsibility on its…

Q: What type of tax raises the most revenue for the federal government?  What is the largest source of…

A: What type of tax raises the most revenue for the federal government?  What is the largest source of…

Q: Describe the progressive and proportional forms of taxation. What goal might the government be…

A: Taxation is the process through which the government levies and collects taxes from people,…

Q: Which one of the O All of our ta O Our Federal O Our Federal O Our Federal taxes.

A: Taxation influences economic activity, wealth distribution, and stability. Tax policies influence…

Q: For the government to run efficiently, it must collect tax revenue from the people. What is the…

A: The objective of the question is to identify the largest source of revenue for the federal…