Give two arguments why wealthy taxpayers shouldpay more taxes than poor taxpayers

Q: Y= C+I+G Where C = 160 +0.6Yp I = 150 G = 150 T= 100

A: When the policymakers compute the real GDP by expenditure methods, they include consumption,…

Q: Explain marginal tax rate.

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

Q: Which tax system impacts more on the rich people, and why does it impacts them more?

A: Progressive Taxes is the tax system that impacts more on the rich people. Taxes that are assessed…

Q: is it always possible to increase tax revenues by increasing tax rates?

A: Laffer curve represents the relationship between tax rates and tax revenue. It is an inverted U…

Q: Define the term Marginal Tax Rate?

A: Marginal tax rate is the rate at which tax is incurred on an extra dollar of income. In United…

Q: Explain tax abatements and how are they different from tax expenditures?

A: It affects the application of a credit to the whole taxes owed. Though circumstances may change,…

Q: What are the short-run and long-run implications when it comes to government spending changes versus…

A: Government Spending is defined as the money that is spent by the government or the public sector 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: What are the characteristics of Taxes, please discuss each,

A: Taxes are the payment made by citizens of country to government of the country and citizens does not…

Q: Over the past century, has the government’s tax revenuegrown more or less slowly than the rest of…

A: Meaning of TAX: A tax is charged by the government compulsorily on an individual or legal entity.…

Q: How do taxation and government spending impact the economy of a country positively in three ways and…

A: Positive impact of taxation Cutting taxes enhance demand by increasing disposable income and…

Q: Whichofthefollowingstatementsis(are)correct? (x)  A person’s tax liability refers to the amount of…

A: In an economy, government imposes tax on the people based on their income level and this tax is…

Q: 3)  Are excise taxes, like those on tobacco, gasoline, and alcohol, Progressive, Proportional, or…

A: Regressive tax imposes more burdens on poor households than the rich ones because it is same…

Q: A progressive tax system implies that the proportion of income paid to taxes rises as income…

A: A progressive tax is one that is based on the ability of the taxpayer to pay.

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: What are Expansionary and discretionary fiscal policies? Examples to dumb down.

A:

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

A: The average tax rate is the total amount of tax divided by total income.

Q: What is retrospective tax?

A: Tax is a compulsory payment imposed on the individuals, household and firms. Taxes are generally…

Q: what is Regressive Tax System in economics?

A: A regressive tax system refers to the system of taxation where tax rate and taxable amount are…

Q: Describe the three distinct terms to describe the tax rates?

A: A tax is an obligatory payment made by the people towards the government in order to meet the…

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: What happens to the tax revenue when the tax on a good increase gradually? (a) Will rise (b) Will…

A: Tax Revenue:- Earnings received through profit and revenue taxation, benefit payments, taxes on…

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: A tax in a supply and demand model will: O Transfer surplus from the government to consumers. O…

A:

Q: Which of the following government programs are financed by payroll tax? a) Medicare, food stamps,…

A: A payroll tax is a percentage deducted from an employee's pay that is paid to the government on 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: Do you think taxpayers would be willing to pay higher property taxes if the revenue is earmarked for…

A: The practise of allocating tax or other revenues to a specific programme or purpose is known as…

Q: Accordingtothetextbook,whichofthefollowingstatementsis(are)correct? (x)  When a taxpayer attempts…

A: Taxation refers to the compulsory charge which the citizens of the country have to pay to the…

Q: Which of the following is an example of a progressive tax?a. The excise tax on cigarettesb. The…

A: OPTION C - Federal Personal Income Tax A progressive tax is a tax where the tax burden increases…

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: Suppose taxes are related to income as follows: Income Taxes $1,000 $200 $2,000 $350 $3,000 $450 a.…

A:

Q: Discuss the taxation system of the United States. What kind of system does the U.S currently employ?…

A: Taxes are non-voluntary taxes imposed on individuals or companies by a government agency (local,…

Q: Why is the burden of a tax to taxpayers greater thanthe revenue received by the government?

A: Tax Burden is a proportion of the taxation rate forced by government. It incorporates direct…

Q: List the main categories of federal revenue and spending and describe the difference between…

A: Apart from maintaining law & order and protecting a nation against external threats (national…

Q: Compare progressive, regressive, and proportional taxes. Give at least oneexample of each type of…

A: A proportional tax is the one in which a fixed percentage of tax is imposed on the income of all the…

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: Why does taxation create an excess burde

A: The excess burden of taxation is the efficiency cost, or deadweight loss, associated with taxation.…

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

A: