Q: Match the term with the definition: [?] is the rate you pay on the last dollars you earned…
A: Marginal value is the value from the last unit. Average value is the value per unit.
Q: What is the marginal tax rate? Select one: A. Total income divided by total taxes. B. The proportion…
A: The marginal tariff rate is how much extra duty paid for each extra dollar acquired as pay
Q: 5 The largest source of government revenues is ________. Select one: a. personal income taxes…
A: The question is asking to identify the largest source of government revenues among the given…
Q: The two largest sources of tax revenue for theU.S. federal government area. personal and corporate…
A: ANS According to the data available US federal govt. collects about 50% of its tax revenue from…
Q: 1. Explain the three canons of a good tax system. 2. List and explain the four stages of the…
A: The answer is as follows:-
Q: 95. Homeowners a. benefit from several loopholes. b. must pay tax on the “income” of living…
A: The tax is the unilateral payment made by the public to the government for various purposes such as…
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: Write the letter of your choice on the space provided before each number. Thus, A – if only the 1st…
A: Progressive tax system is based on the ability to pay the principle.
Q: When the income tax was first proposed in 1894, it was ruled unconstitutional? True or false
A: The tax is a unilateral payment made by the people towards the government for various purposes such…
Q: Thelma's current income is $100,000 and she currently pays $30,000 in income tax.w Any income she…
A: Average tax rate = (Total tax / Total income) Marginal tax rate = (change in tax paid / change in…
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: 4. Why do government entities impose taxes and how is the type of taxation chosen (e.g., excise v.…
A: Governments impose taxes for various reasons, including raising revenue to fund government…
Q: Write true or false for the following: a.The government modifies the taxation system sometimes…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
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 is the difference between an expenditure (cash-flow) tax and a sales tax? What is the…
A: Tax: It refers to the income of the government. The taxes are the income that people will pay…
Q: Melodie’s taxable income is $38,000 and she pays income tax of $4,370. If Melodie’s taxable income…
A: Marginal tax rate is defined as change in tax wrt change in taxable income.
Q: An indirect tax is: A. a tax on goods and services that we purchase B. a tax with your name…
A: What is indirect tax.
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: 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: ‘Equity can always be increased by raising marginal income tax rates.’ Discuss.
A: Taxes refers to compulsory charge paid by the individuals to the government. The taxes are paid to…
Q: 6. Taxes where high income households pay a higher percentage of their income in taxes than low…
A: A tax is a charge being levied by any government upon an individual or an organization for…
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: 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: Assuming a $7 per unit tax is imposed, in calculating the realative burdent of the tax does it…
A: Government imposed a tax of $7, it will decrease the supply and shifts it to the left by the amount…
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: 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: $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: 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: Use information from paragraph 4 to answer the following question. Before the Progressive Era, many…
A: When talking about progressive tax, it can be said that it is the tax that is directly related to…
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: Discuss the key tenets of the U.S. personal income tax code. For example, our tax rates are…
A: A tax code is indeed a federal govt document that describes the rules that people and organizations…
Q: A payroll tax is an example of a since it taxes the same percentage for all incomes. AProportional…
A: Taxes are the amount that is charged from the consumer. All the goods and services that are used by…
Q: Define individual income tax. A. Individual income tax is the tax an individual pays to the…
A: Meaning of Tax Imposition:The term tax imposition or the tax hike refers to the situation under…
Q: ook Refer to the following table for Waxwania: Government Expenditures, G $ 170 Tax Revenues, T Real…
A: Let Y represent the Real GDP. Step 1:a.The marginal tax rate (MTR) is calculated as; MTR…
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: 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: Question 33 Do buyers or sellers bear more of the burden of this tax? Group of answer choices…
A: With tax of $6 per unit, quantity sold in market is 20.
Q: 40% on income up to $25,000 30% on income between $25,000 and $34,000 25% on income between $34,000…
A: Tax is imposed by the government to earn revenue for spending in an economy. Taxes can be classified…
Q: A progressive tax system is one in which the average tax rate increases as income increases. Don't…
A: Taxation is the cycle by which a government or other taxing power powers a financial charge or duty…
Q: 8. Explain why each of the following taxes is progressive or regressive. a. $1 per pack federal…
A: A progressive tax is considered in a case whereby there is a more than proportional rise in the tax…
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 type of taxation is set up where everyone pays the same percentage? A Progressive B Regressive…
A: Taxation refers to the process through which a government or taxation body imposes or levies a tax…
Q: 9. If your_______rises as you make _________income, your taxes are progressive.total taxes,…
A:
Q: Use the data below to answer the following questions. Family Income Tax rate A $10000 20% B…
A: A progressive tax is where the tax rate increases with the increase in income. A regressive tax is…
Q: Assume a state's general sales tax is 6%; this is an example of a _______________ income tax.
A: Assume a state's general sales tax is 6%; this is an example of a regressive income tax. The correct…
True or False: "A progressive tax system imposes higher tax rates on higher income earners." Don't use
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- The largest source of revenue for the federal government is ? A.corporate income taxes. B. the sales tax C. excise taxes D. individual income taxes E. the value added taxA government replaces progressive taxes with regressive taxes. What is the likely outcome? a. Distribution of Income more even; Marginal Tax Rate decrease b. Distribution of Income more uneven; Marginal Tax Rate increase c. Distribution of Income more uneven; Marginal Tax Rate decrease d. Distribution of Income more even; Marginal Tax Rate increaseWhich of the following is an example of a progressive tax?a. The excise tax on cigarettesb. The federal tax on gasolinec. The federal personal income tax d. All of the above answers are correct
- Suppose the city of Strelsau has a 10% property tax on rental properties. Rudolph makes $100,000 a year and pays $21,000 per year in rent. Fritz makes $40,000 per year and spends $10,800 in rent. Both Rudolph and Fritz rent from Michael. a. How is Strelsau's property tax best described? Regressive Proportional Incidental Progressive b. Who most likely actually pays the tax on rental property? The renters, Rudolph and Fritz, pay it. The landlord, Micheal, pays it. It is split evenly between the renters and the landlord. The renters and landlord negotiate who will pay it.QUESTION 1 1. Match the description to the type of tax. v Tax on the use of vehicles, gasoline, alcohol, cigarettes, highways, and A. Estate Tax the like. B. Excise Tax v Tax on the wealth and property of a person upon death. v Tax on wages, earned interest, capital gain, and the like. v tax on home and land ownership v Tax on purchases of discretionary items v Tax on items during their production as well as upon consumption C. Income Tax D. Sales Tax E. Value Added (VAT) tax or Goods and Services (GST) lax F. Property TaxWhen Ann's income increased from $100,000 to $120,000, her income tax payment increased from $22,000 to $30,000. Ann's average tax rate is and her marginal tax rate is A. 25 percent; 25 percent B. 40 percent; 25 percent C. 40 percent; 40 percent D. 25 percent; 40 percent
- c. A progressive tax d. A regressive tax QUESTION 3 Corporate profits are a. taxed to pay for Medicare. b. exempt from taxes. c. included in payroll taxes. d. taxed twice, once as profit and once as dividends. QUESTION 4 A value-added tax or VAT is a tax on a. retail purchases only. b. pollution. c. all stages of production of a good. d. wholesale purchases only. QUESTION 5 Table 12-17 INCOME $50,000 100,000 200,000 AMOUNT OF TAX $12,500 (25%) $25,000 (25%) $50,000 (25%) TAX A40. The most efficient tax system has a broad tax base and a low tax rate. A) True B) False 41. Making the income tax more progressive by adding more tax brackets potentially can result in A) stronger economic growth B) a more "equitable" tax C) no effect on equity or economic growth D) slower economic growth 42. The Atlanta city council decides to double taxes on small business in the downtown area to raise more tax revenue to fund more social programs. From an economic growth perspective, why is this a misguided economic policy? A) it is not a bad policy; doubling taxes will automatically double tax revenue B) excessive taxes on business can result in reduced jobs, incomes and business creation because business simply moves to a new government jurisdiction. C) it is not a bad policy; raising taxes will double tax revenue, raise income levels, and encourage business creation. D) excessive taxes will provide more social benefits, so business will tolerate unusually high taxes and stay…MACROECONOMICS Progressive Tax Based on your yearly income above, calculate the amount of tax each income bracket would pay under a progressive tax plan. Each row up to the total income amount should be filled in. For an example of a completed chart, go to Page 4 of Lesson 05.03: Sharing with Uncle Sam. Calculate the tax for $95,000. For example, $10,000x40%-%$4,000 in tax. Show your work!! Proposed Regressive Plan Calculate the tax for S25,000. For example, $10,000x40%=$4,000 in tax. Show your work!! 10% on income up to $25,000 20% on income between S25,000 and S34,000 25% on income between S34,000 and S44,000 30% on income between $44,000 and S80,000 40% on taxable income over S80,000 TOTAL TAX PAID (sum of all rows):
- 20. Marta purchased a sweater for $15.67, a pair of socks for $2.13, and a bracelet for $6.78. For all purchases she must pay the state sales tax of 7.5% and the county tax of 0.5%. What is the tax on her purchases?Match the term and the definition: flat tax Places heavier burden on poor than on rich as your income increases, the percentage that you pay increases A. Progressive taxes B. Proportional taxes C. Regressive taxesA proportional tax is a tax for which people with lower incomes Group of answer choices A. pay a higher percentage of their incomes in tax than do people with higher incomes. B. pay a lower percentage of their incomes in tax than do people with higher incomes. C. pay the same percentage of their incomes in tax as do people with higher incomes. D. pay the same amount of taxes as people with higher incomes pay.
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