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

Q: What do taxes pay for? Schools, government departments, roads, and emergency services…

A: Taxes is the compulsory payment which is levied by government on people or corporations. Taxes is…

Q: Economist Arthur Laffer famously pointed out that, in some cases, income tax revenue can actually go…

A: Arthur Laffer is the economist who explain the relationship between tax rates and the revenue…

Q: What are some dangers of Fiscal Policy?

A: Fiscal policy: - it is a tool of the government of a country in which the government adjusts its…

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: Economist Arthur lagger famously pointed out that, in some cases, income tax revenue can actually go…

A: The tax is the unilateral payment made by the people towards the government for various purposes…

Q: explain the purposes, tools, and limitations of fiscal policy?

A: The economies around the world tend to work with the motive and objective of increasing their…

Q: Your Finance Minister considers making a tax reform. He asks you, as a senior tax administrator, to…

A: There are five basic requirements that must be satisfied by a good tax system : Fairness Adequacy…

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: Give an example for the Average Tax Rates?

A: Average tax rate is the tax paid as a percentage of total income. The average tax rate can be…

Q: Write a paragraph that explains how the U.S. tax system has become less progressive since the 1950s.

A: In the last 50 years, the federal tax system of the US has undergone 3 main and powerful changes.…

Q: If a tax of $0.90 is imposed, what is the tax revenue?

A:

Q: Who is in charge of the fiscal policy?

A: The fiscal policy is the policy of the policy of the government in the economy to control the…

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: Why is it important to know how Federalism and how the federalist part of government works?

A: According to the Classical Economists, the economy should adopt the policy of lassiez fraier or…

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: 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: 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: What are the positive and negative impacts of fiscal policy on businesses within an economy?

A: Fiscal policy refers to the policies of expenditures and taxes of the government of a country. It…

Q: If a tax system is well designed: Select one: a. then efficiency can be improved only by making the…

A: Answer - Need to find - If a tax system is well designed  Evaluating the option - a. then efficiency…

Q: If taxes are a cost of doing business and are built into the price of goods and sevices, who…

A: Incidence of tax The incidence of tax refers to the extent to which the consumer or producer…

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

A:

Q: EXPLAIN THREE WAYS IN WHICH TAXATION AND GOVERNMENT SPENDING IMPACT THE ECONOMY POSITIVELY AND…

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

Q: Does tax cuts reduce tax revenue?

A: Government tax revenue: - it is the sum total of the income government received through taxation.

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: Discuss the measures that the UK government are taking to mitigate tax avoidance and tax evasion?

A: One sign of tax evasion is the amount of unreported income, which is the difference between the sum…

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: Which taxation system is best and which is the worst?

A: There are three types of tax systems 1. Progressive 2. Proportional 3. Regressive

Q: By how much would taxes have to rise as a share of GDP in order to “solve” the Social Security…

A: Social Security has a basic math problem which is long-known which indicates that more money would…

Q: Make a graph showing the spending and tax revenue of your state government for as many years as you…

A: Answer is given below

Q: According to the textbook, which of the following statements about taxes in the U.S. is (are)…

A: Taxes are defined as the compulsory charges imposed by the government of the country on individuals…

Q: What are some ways congress has reacted to the expansion of presidential power?

A: To find : Ways congress has reacted to expansion of presidential power.

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: How do the top two categories of federal employment differ from the top two categories of local and…

A: Government jobs can provide both financial and job security while giving a sense of honor of working…

Q: What is fiscal policy, who makes it, and what is it designed to influence?

A: Fiscal policy is the policy designed to help economy stabilise. It is usually made by the central…

Q: When governments run budget deficits, how do they make up the differences between tax revenue and…

A: A government budget is a statement of its planned expenditures and revenue receipts for a given time…

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…