Theory provides that without taxes, a government would be paralyzed for lack of power to activate and operate it, resulting its destruction ?
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- Taxes result in an excess burden or welfare loss, but government subsidies always result in a welfare gain. True or false? Explain fully.Capital flight can occur due to A) government regulations on interest rates B) inappropriate economic policies C) the threat of government seizure of local assets D) high taxes on local investmentsWhich is an incorrect statement regarding taxes? * a. Taxes are necessary for the continued existence of the government. b. The obligation to pay tax does not rest upon the privilege enjoyed by or the protection afforded to the citizen of the government but upon the necessity of money for the support of the state. c. There should be personal benefit enjoyed from the government before one is required to pay tax. d. Taxes should be collected without unnecessary delay but its collection should not be tainted with arbitrariness. e. Answer not given
- Explain the main differences between tax evasion and tax avoidance and list the main actions taken by governments to reduce/eliminate them?1.) Which theory of taxation states that without taxes, a government would be paralyzed for lack of power to activate and operate it, resulting in its destruction? a. Lifeblood theory b. Reciprocity Theory c. Symbiotic theory 2.) Which type of tax is already repealed by the CREATE Act? a. Regular Corporate Income Tax b. Minimum Corporate Income Tax c. Improperly Accumulated Earnings Tax d. Percentage TaxGive two examples of where the government involvement is excessive in a free market system? And two examples of where the government is not involved enough?
- When a government lowers taxes it is employing ________. A) fiscal policy B) monetary policy C) domestic policy D) the law of one priceAre deferred taxes an unfair loophole that must be closed? What are the specific concerns that have been expressed over the years and do you see the rules surrounding deferred taxes changing in the future?Discuss problems regarding tax evasion in a country? What should be the solution that can be done by the government?
