What is the benefit of having state and local taxes on income instead of collecting all such taxes at the federal level? What is the local tax in your county/city? Make sure to state the county/city and the tax rate. How does this compared to the tax rate of neighboring counties/cities? How do you feel about this? Does the location with the higher tax rate receive better amenities (schools, police, road conditions? Would you rather pay a higher tax for better service?

Q: What is progressive tax? Write its merits and demerits.

A: A tax is described as one that the government imposes on citizens who participate in the economy in…

Q: Certain items, such as gasoline, air travel, hunting equipment, cigarettes, and telecommunications…

A: Tax is the fixed rate of the amount that is charged by the government on a product from the…

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: 4. What Factors Determine Who Bears the Burden of Taxation?

A: Tax incidence is an approach in which the burden of tax is divided between sellers and buyers.

Q: How do governments use spending and taxation to reduce inequality and poverty in an economy?

A: Being in poverty is the condition of not having enough money or material belongings for oneself or…

Q: The government raises taxes on cigarettes from $1 per to $2 per pack. Prior to the tax increase, 5…

A: (a) Before increase in tax, the tax rate was t0 = $1 and quantity sold was q0 = 5 million packs The…

Q: If the government wants to raise tax revenue, which of the following items are good candidates for…

A: Taxes play a crucial role in financing government operations, addressing social and economic…

Q: What is merits and demerits of direct tax?

A: A tax is described as one that the government imposes on citizens who participate in the economy in…

Q: he U.S tax system a progressive income tax. What is a progressive tax

A: Revenues are required to smoothly run the government. Government earn major parts of the revenue…

Q: Explain in your own words how you believe the Jamaican Government could use taxation to create…

A: The Caribbean economies relies heavily on key sectors such as travel and tourism, international…

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: 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: If a government agency doesn’t collect enough money in taxes to pay for the programs it created.…

A: In an economy, government makes expenditure on social activities like developing infrastructure,…