SWFT Individual Income Taxes
43rd Edition
ISBN: 9780357391365
Author: YOUNG
Publisher: Cengage
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Is the local property tax a regressive tax, or a progressive tax?
How are national taxes similar to and/or different from local taxes?
Assume that the United States Congress passes a tax law that provides for a "rebate" to taxpayers. One of the goals of the rebate is
A. Increase consumer disposable income and expand the economy.
B. Increase consumer disposable income and contract the economy.
C. Decrease consumer disposable income and expand the economy
D. Decrease consumer disposable income and contract the economy.
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- The current federal income tax structure is progressive in nature. First, explain what that means. Second, regarding the proposal for a "flat tax", comment on both justification for and major obstacles to enactment.arrow_forwardWhich of the following is an example of a regressive tax? a) Income tax b) Sales tax c) Property tax d) Corporate taxarrow_forwardWhich of the following best reflects the ability-to-pay philosophy of taxation? a tax on residential property a progressive income tax an excise tax on gasoline an excise tax on coffeearrow_forward
- The Social Security tax is often described as a regressive tax since only earnings below a certain threshold are taxed. What is your opinion on the fairness of this tax?arrow_forwardBasic community tax is an example of _______ while income tax is a kind of _______.A. Poll tax; excise taxB. National tax; local taxC. Excise tax; property taxD. Privilege tax; capitation taxarrow_forwardThe federal income tax is Group of answer choices flat rate. progressive. integrative. regressive.arrow_forward
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