Briefly explain the purpose served by payroll taxes and how they are collected. Describe any comment that economists point out with regard to payroll taxes.

Q: 1. Which of the following is an example of govemment discretionary spending:  A) Social Security…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What is the relative importance of taxation to the economy of the country

A: Taxes are a source of government revenue which is charged on the goods and services purchased by the…

Q: What are the budget revenues for a government to finance government spending?

A: Budget revenues are detailed information of revenues  receipts and expenditures of the government.…

Q: Briefly explain what are direct tax

A: Taxes are categorised as direct and indirect tax based on who shares the final burde of the taxes…

Q: What is the effect of government purchased and taxation on the level of income?

A: KEYS- There are two ways the government can influence fiscal policy: by raising taxes or by cutting…

Q: Define the three types of taxes (Proportional tax, Progressive tax, Regressive tax)

A:

Q: 1. Using the Comptroller of Maryland's website answer the following questions: a. Does every citizen…

A: Answer 1.  No, every citizen in Maryland does not pay the same amount of taxes. The amount of taxes…

Q: 1. This kind of tax is derived from the individuals, corporate estates, and trusts income. A.…

A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

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: Amount of Tax Due Income Tax Schedule Tax Schedule Tax Schedule Tax Schedule A D $50,000 $10,000…

A: In a market, differ types of tax system are used for different commodities. A regressive tax is one…

Q: Instead of paying transfer (TR) if the government were to increase government spending (G), what…

A: The transfer payment is described as government payments to the individual by social programs like…

Q: Illustrate each of the following situations with a graph showing IS curve: a. An increase in…

A: The IS curve slopes downward from left to right because as the interest rates falls, investment…

Q: Which of the following is an indirect tax? 1. Capital Gains Tax 2. Excise Duty 3. Wealth Tax 4.…

A: A direct tax is one that is paid directly to the institution that imposed it. Individual taxpayers,…

Q: What is Regressive Tax?

A: Generally, there are two types of taxes one is lump-sum tax and the other one is a specific tax or…

Q: II. Illustrate cach of the following situations with a graph showing IS curve: a. An increase in…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What will happen to the amount of taxes collected by the government during a recession when there is…

A: please find the answer below.

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: 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: Illustrate each of the following situations with a graph showing IS curve: a. An increase in taxes

A: Tax is a unilateral payment made from the public to the government for many purposes such as for the…

Q: Steve Forbes ran for U.S. president in 1996 and 2000 on a platform proposing a 17% flat tax, that…

A: Answer: Given: Tax rate = 17% Alice's taxable income = $29,000 Calculation of tax amount: If Mr.…

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: According to the pie chart, which of the following provides the most revenue for the federal…

A: As per the pie chart above, the federal tax revenue is $3.18 trillion and is collected/earned…

Q: Based on the IRS table, Jake calculates that his marginal tax rate is _ when his annual taxable…

A: Answer; The marginal tax rate is the tax rate corresponding to the tax bracket in which the income…

Q: Briefly explain the following concepts: a. Progressive tax structure b. Crowding-out effect

A: a) The progressive tax structure is a system in which the tax rate increases as the taxable income…

Q: Question: Solve for the equilibrium level of output in the following two scenarios: there isan…

A: Y=−5+0.5(Y−250−0.1Y)+200+300+50'

Q: What is progressive and regressive tax?

A: Tax is a mandatory payment usually levied by the government authorities on the individuals,…

Q: how are consumption taxes different from income and property taxes?

A: Taxes are compulsory payments to governments without expectation of direct return or benefit to the…

Q: Give a brief example of regressive tax system

A: There are three tax system which are:- (1) Proportional tax system (2) Progressive tax system (3)…

Q: 4. Computing and interpreting average tax rates In a hypothetical economy, Clancy earns $11,000,…

A: When all taxable sources of income are combined together and divided by the amount of taxes payable,…

Q: According to the textbook, which of the following statements is (are) correct? (x) As a nation gets…

A: The answer is - (x) only

Q: Briefly provide three reasons as to why income inequality is on the rise in Canada and the US.…

A: Income inequality has been increasing in Canada and United States in the course of recent years,…