What is the concept of horizontal equity and why is ithard to apply?

Q: Explain the benefit principle and ability to pay approach with regard to tax equity. Which approach…

A: Benefit principal theory of taxation - In this theory citizens of a country are asked to pay tax…

Q: Explain the Oman governmental units, business type and fiduciary type with example?

A: Governmental units are described as agencies, board, division, department, political subdivision,…

Q: What is public finance in the Philippines?

A: Public finance can be defined as a subject dealing with the study of government functions concerning…

Q: 3er the following hypothetical income tax brackets for a married couple Assume for simplicity there…

A: Income Tax Rate $0-$20,000 10% $20,000-$50,000 20 $50,000-$100,000 35 Over $100,000 50…

Q: How would you characterize the tax system? O. Progressive Ob. Regressive O. Proportional Od.…

A: The charge that is being levied on goods and services by the government is known as tax. It is…

Q: e role of tax

A: The main purpose of taxation is that it finances the government expenditure . The most important use…

Q: a) What are the shortcomings of a highly centralized system of government, and how does devolution…

A: Centralized control of a business can have several disadvantages, including stifled creativity,…

Q: Imajor tax cuts 1800 tincreases 500 1600 -avg pretax income of Top 1% avg pretax income of 1400 Top…

A: Pre-tax income of top 1% household are as follows - Years 1979 1980 1981 1989 1990 1991 2000 2001…

Q: Why does a corporation's state income tax cost depend on its marginal income tax rate for federal…

A: Income tax: It is an assessment paid by people or elements relying upon the degree of income or…

Q: a key consideration by most Governments. In the quest to provide for such goods, some goods and…

A: The branch of economics that helps in assessing and adjustment of the revenue and expenditure of the…

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 single tax system? Write its merits and demerits.

A: A single tax is a taxation system that is based mostly or solely on one tax. This tax is often…

Q: Define Public finance. How public finance is different from private finance?

A: Government spending is the costs incurred by the government on goods and services to enhance the…

Q: What’s equity

A: Financial instruments are the assets that can be traded. These instruments represents the monetary…

Q: One day, Barry the Barber, Inc., collects $400 forhaircuts. Over this day, his equipment depreciates…

A: Gross Domestic product (GDP) is defined as total value of goods and services produced in a year…

Q: 1. What are the 4 Policy tools of the Federal Res A. В. C.

A: The Federal Reserve System is the United States of America's central banking system. After a series…

Q: What is the shortsightedness effect? How does it influencethe attractiveness of government…

A: Despite the fact that most of the resources required for government spending are raised each year…

Q: Your professor has decided that, from now on, students who receive less than a 60 percent grade…

A: The tradeoff between equity & efficiency symbolizes that as there is a rise in equity in the…

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: When filing an income tax return, one can claim a deduction for charitable contributions. Let's…

A: Income Tax is defined as a tax that the government imposes on the income that is generated by the…

Q: 1) Use the following parameters to sketch two budget constraints, one with no (or $0) basic personal…

A: The microeconomic theory of utility maximisation can also be applied in determination of optimal…

Q: s this tax progressive regressive or pronortional?

A: As per the question 5% sales tax is levied on the consumption level of the consumer which implies…

Q: A toll is a tax on citizens who use toll roads. Thispolicy can be viewed as an application ofa. the…

A: Taxation is a legal proceeding that is imposed by the government for the use of certain government…

Q: a. Draw a Lorenz curve for an economy comprising of unemployed (with zero income), workers and…

A: Lorenz curve is a graphical representation of wealth distribution in a society. It represents how…

Q: 1. Define a progressive income tax system.

A: A tax is imposed by the government to raise funds for its expenditures. It may be progressive,…

Q: Calculate the average and marginal tax rates inthe following table, and indicate whether the taxis…

A: Average Tax Rate:- Average Tax rate=Total tax dueTotal taxable income×100 Marginal Tax Rate:-…

Q: n what ways is a direct democracy more democratic than a representative democracy?

A: Direct democracy or unadulterated democracy may be a sort of democracy wherein the electorate…

Q: In the case of a pay-as-you-go social security system, how would the tax burden matter

A: "To do for a group of people what they need but cannot do at all or cannot do so well for themselves…

Q: Define vertical and horizontal equity objectives of a tax system. Which one do you think is more…

A: What Is Vertical Equity?  Vertical equity is a strategy for gathering annual tax where the taxes…

Q: If you would have to pay $8,000 in taxes on $90,000 taxable income and $10,000 in taxes on $94,000…

A: Marginal Tax Rate=Change in taxes PaidChange in Income×100Average Tax Rate=Taxes PaidTaxable…

Q: nington s ome tax llabllity ах Па HE 2017 tax rate schedule in appendix D in - ook). b. What is…

A: Tax liability is the amount of money in the form of tax debt you owe to tax authorities. Here, we…

Q: Winston S. Churchill said, “I contend that for a nation to try to tax itself into prosperity is like…

A: Hey champ, Welcome to this platform. Here you will get the answer with better quality in minimum…

Q: When someone owns an asset (such as a share ofstock) that rises in value, he has an “accrued”…

A: Capital gain arises when there is a rise in the value of assets possessed by an individual. Capital…

Q: What is the importance of public finance?

A: Introduction - In the 19th century, public finance or revenue had no special importance as the…

Q: If the government gives a $300 tax cut to everyone inthecountry,explainthemechanismbywhichthiswill…

A: Tax cuts boost demand by by encouraging businesses for hiring and investing more and increasing…

Q: How are public colleges and universities respondingto budget cuts?

A: Meaning of Government Debt: The term government debt refers to the situation under which the…

Q: Efficiency is the same as equity. O True OFalse

A: The efficiency means that the society allocates scarce resources between the people so as the social…

Q: Using political economy, describe a contemporary common private sector job (say, anurse at a private…

A: Surplus value: - Surplus value is the amount that a capitalist keeps out of the total amount…

Q: a) Suppose that your employer offered you $5,000 in cash instead of health insurance coverage.…

A: Answer a) Cash offered by the employer is subject to state income taxes of 8 percent and federal…

Q: ndicate whether eacl spending (1), governm N). Enter only the le Carmax sells a three The government…

A: GDP is the national income accounting of the aggregate expenditure within an economy. It is the sum…

Q: Describe the revenue projects?

A: Revenue project is the project that does not require investment in resources but requires ongoing…

Q: Suppose a county has a classified property system where owner-occupied property is rated at 15%,…

A: a) Owner-occupied property=15% Farm property=10% All other property=20% Now, to reduce the tax…

Q: Which of the following forms of federalism maintans the federal and state governments should work…

A: Dual federalism is also known as the layer-cake federalism. It is a political arrangement in which…