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- Say that the government is considering a ban on smoking in restaurants in Tobaccoville. There are 1 million people living there, and each would benefit by 200 from this smoking ban. However, there are two large tobacco companies in Tobaccoville and the ban would cost them $5 million each. What are the proposed policys total costs and benefits? Do you think it will pass?The social security tax is 6.2 on employees income earned below 113,000. Is this tax progressive, regressive or proportional?The fact that lower-incomefamilies will spend a higherpercentage of their income ontangible goods that are taxablethan higher-income familiesmeans that sales tax is whattype of taxation system?
- 17- 16 15 14 13- 12 St 10- 9- 8- 7- 6- D Dt Epand What is the consumer's tax incidence and what is the producer's tax incidence Select one: a. Consumer's tax incidence is 50: producer's tax incidence is $12 b.Consumer's tax incidence is $6: producer's tax incidence is $6 Oc Consumer's tax incidence is $12: producer's tax incidence is $0 d. Consumer's tax incidence is $8: producer's tax incidence is $4 e. Consumer's taxincidence is $4; producer's tax incidence is $8 bpardSuppose that you are an economic-policy advisor. Environmental groups are pressuring you toimplement the highest-possible carbon tax, whileindustry groups are pressuring you to implementno carbon tax at all. Both argue that their positionmakes more sense economically. Explain to themwhat the most-efficient tax level will be, and whythere are costs to setting the tax too high or toolowCalculate the average and marginal tax rates inthe following table, and indicate whether the taxis progressive, proportional, or regressive. Whatobservation can you make concerning the relationshipbetween marginal and average tax rates?
- The U.S. income tax is currently O progressive O proportional O regressive O proactive a tax.How will Effective Tax Structure and Tax Collection help the economy during covid-19 pandemic?18/Class/611 knoxschools.org bookmarks e Your Eighty Dollar... sds E· Question 28/28 1 SUHMIT A BOOKMARK 28 Which type of taxation is set up where everyone pays the same percentage? A Progressive B Regressive C Proportional DELL