What kind of system does the U.S currently employ?

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: Explain marginal tax rate.

A: 1-The marginal tax rate is the additional/extra tax rate paid for every additional/extra income…

Q: Suppose the tax rate on the first $10,000 income is 0; 10 percent on the next $20,000; 20 percent on…

A: Tax rate:For first 10,000=0%10000-30000=10%30000-50000=20%50000-80000=30%80000 and above=40%

Q: Explain three different types of taxes imposed in the United States including the reason for its…

A: Following are the three types of tax imposed in the United States: Progressive Regressive…

Q: What can you say about Tax incidence in the Philippines, who carries the burden more? Give examples…

A: Tax incidence is an economic term for the distribution of tax burden between producers and sellers.…

Q: Give a brief conclusion about taxation in Malaysia

A: Malaysia has progressive direct tax system.People with higher income are taxed higher and people…

Q: Tax incidence usually falls A. only on producers. B. on both consumers and producers. C. only on…

A: Tax incidence is the division the burden of tax falls between producers and consumers. The burden of…

Q: Suppose that a nation decides to introduce a new income tax system with the tax brackets shown in…

A: Since you have not mentioned the sub-parts you need help with and since we are entitled to answer up…

Q: Can you explain how to figure this out? The demand curve moved to the left Showing what the demand…

A: Initially when there were no taxes involved, the equilibrium price which the buyer paid and the…

Q: What would happen if Texas collects less taxes and generates less revenue?

A: In an economy, it can be seen that the taxes are the major part or component of government revenue.

Q: The Canadian tax system is often used to achieve various economic objectives, give examples to…

A: In Canada and the United States, administrations of all statuses play an important role. they…

Q: Write an essay about:

A: ANSWER STEP-1 Companies and employees in urban center fancy a number of very cheap taxes within the…

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: What can you say about Tax incidence in our country, who carries the burden more? Give examples and…

A: Taxes are unintended fees placed on individuals or companies and levied by a government agency –…

Q: Calculate the value of indirect taxes for the following two cases:- (1) Indirect tax = 0 ,…

A: We must first understand what is the concept of net indirect tax.  Net indirect taxes are given by…

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: explain four reason why is tax important for a country

A: Tax is the unilateral payment made by the people towards the government for the income earned by the…

Q: Which of the following best describes a progressive tax system? It redistributes income from lower…

A: Progressive tax system is a system where people with higher incomes be higher taxes and people of…

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: Suppose in Fiscalville there is a 5 percent tax on the first $10,000 of income, but there is a 15…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three subparts…

Q: Suppose you earn $40,000 per year and pay taxes based on marginal taxX rates. The first tax bracket,…

A: Income tax is that type of tax which is imposed by government on the income of individuals &…

Q: What is the importance of taxation

A: Taxation is proportional to a person's financial status, encouraging social and economic equality.…

Q: Applying John Rawls’ theory of justice in taxation, do you think that it is fair for some taxpayers…

A: A degressive expense is one in which rates are level yet exclusions or travelers are permitted,…

Q: Explain the types of tax liability in the Turkish Tax System by giving examples

A: The Turkish tax system is a vital component of the economy, and it is divided into three major…

Q: Differentiate Tax from Taxation

A: Taxes are of two types: direct and indirect taxes.

Q: The federal government currently uses many forms of taxation, both direct and indirect, to raise…

A: Direct taxes are taxes that are imposed on natural persons and they are based on the taxpayer’s…

Q: Give a brief example of progressive tax system.

A: Out of the three taxes system one of these is a progressive tax system. In a progressive tax system…

Q: Discuss how a government might use taxation to affect the distribution of income

A: In an economy, the inequality of income distribution can be explained by the situation when a richer…

Q: Could you please explain in brief  why taxation is considered as the lifeblood of the state.

A: The nations tend to work with the goal to achieve the maximum possible level of growth. There are…

Q: talk in detailed about more than 4 importance of taxation

A: Residents are taxed concerning their financial conditions, in this way reassuring social and…

Q: What is progressive and regressive tax?

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

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: Explain how corporate profits are taxed twice

A: Taxes refer to the fees that is charged by the government on various entities of the economy. The…

Q: What can you say about Tax incidence in our country, who carries the burden more? Give examples and…

A: Tax incidence The economic cost of a tax is distributed among those who are impacted by it, which is…

Q: Briefly explain the purpose served by payroll taxes and how they are collected. Describe any comment…

A: Taxes are mandatory fee that is paid by the firms and households to the government. It is collected…

Q: Suppose in Fiscalville there is a 0 percent tax on the first $10,000 of income, but there is a 20…

A: "Since you have posted a question with multiple sub-parts,we will solve first three parts for you.To…

Q: Refer to the following table for Waxwania: Government Expenditures, G Tax Revenues, T Real GDP $170…

A: a.  As the tax rate at every unit of Real GDP is the same, i.e. 20% of the Real GDP, therefore, the…