Question

Question 7 Most flat taxes are 1. progressive because everyone is simply paying a proportion of...

Question 7

Most flat taxes are

1.

progressive because everyone is simply paying a proportion of their income in direct or indirect taxes.

2.

difficult to administer.

3.

revenue neutral compared to other types of taxes.

4.

regressive because they require lower income individuals to us a portion of their income with a higher utility than individuals with higher incomes.

Question 9

Which of the following taxes was allowed under the original Constitution?

1.

Income taxes on land owners only

2.

Export taxes

3.

Direct taxes on property

4.

Import tariffs

Question 14

Compared to Europe, federal taxation in the United States

1.

relies more heavily on lump-sum taxes.

2.

relies more heavily on direct taxes.

3.

relies more heavily on indirect taxes.

Question 17

Social security is financed in all but which one of the following ways?

1.

A tax on employers.

2.

A payroll tax with matching contributions by the states

3.

A tax on employees.

4.

A tax on one generation’s workers to support another’s retirees

Homework Answers

Answer #1
Please give positive ratings so I can keep answering. It would help me a lot. Please comment if you have any query. Thanks!
Most flat taxes are
2. difficult to administer.
Which of the following taxes was allowed under the original Constitution?
1. Income taxes on land owners only.
Compared to Europe, federal taxation in the United States
2. relies more heavily on direct taxes.
Social security is financed in all but which one of the following ways?
2. A payroll tax with matching contributions by the states
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Question 7 Most flat taxes are 1. progressive because everyone is simply paying a proportion of...
Question 7 Most flat taxes are 1. progressive because everyone is simply paying a proportion of their income in direct or indirect taxes. 2. difficult to administer. 3. revenue neutral compared to other types of taxes. 4. regressive because they require lower income individuals to us a portion of their income with a higher utility than individuals with higher incomes. Question 9 Which of the following taxes was allowed under the original Constitution? 1. Income taxes on land owners only...
It has been said that nothing in life is guaranteed except for death and taxes. The...
It has been said that nothing in life is guaranteed except for death and taxes. The next questions ask about the three tax structures as well as rate rates. Question 1) Please state whether you prefer a progressive, regressive, or flat (proportional) tax system and WHY. Is your preference more in accordance with the concept of equality of opportunity or equality of outcome? BE SPECIFIC HERE Question 2) Please write about marginal tax rates and whether you believe they need...
Question 3. Consumer problem with progressive tax. In the standard one-period consumer model, it is assumed...
Question 3. Consumer problem with progressive tax. In the standard one-period consumer model, it is assumed that wage income is subject to progressive taxation. The consumer's income is taxed at the rate 0 <t <1, beyond a wage income threshold, x Thus, the total amount of taxes paid by the consumer is T = 0 if the wage income is less than x and T = t (wN-x) if the wage income is higher aw is the real wage andN...
Question 22 The largest single source of federal revenue is 1. excise taxes and customs duties...
Question 22 The largest single source of federal revenue is 1. excise taxes and customs duties 2. contributions for social insurance. 3. the corporation income tax. 4. the personal income tax. Question 28 The federal income tax began as a result of 1. a constitutional amendment. 2. an act of Congress. 3. the bill of rights. 4. an executive order.
1. Many tax reform proposals suggest moving to a flat tax system, one that eliminates progressive...
1. Many tax reform proposals suggest moving to a flat tax system, one that eliminates progressive tax brackets. One proposal would be that everyone pays (say) 25% of their income. Keeping the rest of the tax code intact, how would this change the market for luxury vs. lower priced homes? 2. I have the choice of two mortgages, one with a low rate and 2 points, and one with a high rate and no points. Why might my choice be...
_____ 1. According to the benefit principle of taxation: a. taxes should be distributed according to...
_____ 1. According to the benefit principle of taxation: a. taxes should be distributed according to peoples’ ability to pay. b. the progressive income tax represents the ideal way of distributing taxes among a nation’s citizens. c. user charges are an ideal source of finance for government-produced goods and services. d. flat-rate taxes are the only fair type, since all citizens benefit equally from provision of public goods. _____ 2. If horizontal equity is achieved in taxation: a. individuals of...
1) U.S. public policy discourages saving because Question 4 options: other things the same, taxes increase...
1) U.S. public policy discourages saving because Question 4 options: other things the same, taxes increase the return from savings. means tested programs such as Medicaid provide lower benefits to those who did not save. none of parents’ bequest to their children is taxed. some forms of capital income are taxed twice. 2) If there is a political business cycle and the Federal Reserve supports the incumbent, then we should expect that prior to elections Question 2 options: interest rates...
Question 4 (1 point) In some cities, when a road is repaved, the residents who live...
Question 4 (1 point) In some cities, when a road is repaved, the residents who live on that road are assessed a special property tax to help pay for the road improvements. This road improvement tax follows the A) ability-to-pay principle. B) benefits-received principle. C) flat-rate taxation principle. D) public-choice principle Question 6 Jann has an income of $60,000 and pays $7,200 in taxes. When Jann's income rises to $70,000, her tax bill rises to $8,800. What is Jann's marginal...
1. Serena, a nonresident alien, is employed by GlobalCo, a non-U.S. corporation. She works in the...
1. Serena, a nonresident alien, is employed by GlobalCo, a non-U.S. corporation. She works in the United States for three days during the year, receiving a gross salary of $2,500 for this period. GlobalCo is not engaged in a U.S. trade or business. Under the commercial traveler exception, the $2,500 is not classified as U.S.-source income. TRUE OR FALSE 2. The IRS can use § 482 reallocations to ensure that transactions between related parties are properly reflected in a tax...
Question 1 The average tax rate is Question 6 options: the tax rate that is paid...
Question 1 The average tax rate is Question 6 options: the tax rate that is paid on the last dollar of income earned always higher than the marginal tax rate calculated by dividing the total taxes paid by the taxable income none of the above Question 2 If Cleveland Motors Had an EBIT of $22,560,700, Interest of $7,479,900 and is taxed at an average rate of 32% what is their Net Income? Round to the nearest cent. Your Answer: Question...