The two largest sources of tax revenue for theU.S. federal government area. personal and corporate income taxes.b. personal income taxes and payroll taxes for socialinsurance.c. corporate income taxes and payroll taxes forsocial insurance.d. payroll taxes for social insurance and propertytaxes.

Q: Explain marginal tax rate.

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

Q: a. Define horizontal and vertical equity.   b. Using information from the table below, calculate the…

A: (A) Horizontal equity- Horizontal equity is an economic theory that expresses that people with…

Q: Discuss the effects of indirect taxes on producers. min 200 word

A: Indirect taxes are the taxes that are not directly paid by consumers. These taxes are added in the…

Q: e role of tax

A: The main purpose of taxation is that it finances the government expenditure . The most important use…

Q: States with a corporate income tax are at risk O a) of being found in violation of federal law O b)…

A: Corporate Income tax A corporate tax is basically a type of tax that is imposed on a company's…

Q: Imajor tax cuts 1800 tincreases 500 1600 -avg pretax income of Top 1% avg pretax income of 1400 Top…

A: Pre-tax income of top 1% household are as follows - Years 1979 1980 1981 1989 1990 1991 2000 2001…

Q: Which of the following is true in the United States? O A. Only state governments can collect taxes.…

A: Tax is the compulsory payment to the government and it is the main source of government revenue.…

Q: The market demand for rose is QD = 2400–60P and the market supply for rose is QS= –600 +40P.…

A: Demand shows the ability and willingness of a person to buy a good. Supply shows the willingness and…

Q: The table below shows an income tax schedule for the imaginary country of Republica. Kermit is a…

A: Note: We are not allowed to answer more than three subparts at one moment as per the Bartleby…

Q: S8.Compute:(a) Market Gains (MG) before and after the tax;(b) Governmental Revenue (GR);(c) Economic…

A: deadweight loss is a cost to society created by market inefficiency, which occurs when supply and…

Q: ty

A: Gini coefficient is used to measure economic inequality the coefficient value ranges in (0 to 1). 0…

Q: Match the tax Oxamplo wth the tax structure Rat Tx on stato Residonts Stateh r nd coe Ta TPC 3. 3.…

A: Taxes are a significant and biggest kind of revenue for the public authority. The public authority…

Q: Suppose the demand for cigarettes is Q = 15 - 0.5Pand the supply of cigarettes is Q = P - 3, where P…

A: Equilibrium is achieved at the output level where Qs equals Qd

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: Melodie’s taxable income is $38,000 and she pays income tax of $4,370. If Melodie’s taxable income…

A: Marginal tax rate is defined as change in tax wrt change in taxable income.

Q: 8. Generally, the following can exercise the power of taxation, except: a. The local sanggunian b.…

A: Answer 8) Option c is correct The President only who does not have any power related to Taxation as…

Q: progressive income tax has a greater deadweight loss compared to a proportional incone tax ?…

A: Progressive income tax is a situation when the level of taxes increases with the increase in income…

Q: he following table shows tax payments made for various incomes. According to the information in the…

A: The following problem has been answered as follows:

Q: Explain and provide an example of the following: a) b) c) a transfer payment indirect tax direct tax

A: Public expenditure refers to the expenditure that is incurred by the government in providing goods…

Q: Suppose that your state raises its sales taxfrom 5 percent to 6 percent. The state…

A: Given: The sales tax increases from 5% to 6% This increase is an increase of 20% itself…

Q: Suppose you are a typical person in the U.S. economy.You pay 4 percent of your income in a state…

A: State income tax amount can be calculated as follows.     Thus, state income tax will be $1,200.

Q: Attached is a graph diagram depicting the market for soft drinks. If an excise tax equal to $1 per…

A: In the market for the soft drinks figure, it is identified that the equilibrium is obtained at the…

Q: Exercise I.1 The figure below shows the utility function of a representative individual as a…

A: According to question government must tax 50% of utility for any individual . So , Person with…

Q: When filing an income tax return, one can claim a deduction for charitable contributions. Let's…

A: Income Tax is defined as a tax that the government imposes on the income that is generated by the…

Q: Pls help me answer these 2 multiple questions. Thank you! 1. The individual income tax is a…

A: The individual income tax is a manifestation of this system of progressive taxation.   When the tax…

Q: $0 to $8,000 10 15 $8,001 to $35,000 $35,001 to $70,000 $70,001 to $144,000 $144,001 and up ding to…

A: 1) According to the chart income tax is progressive tax The tax rate rises as income rises so the…

Q: 11. The Laffer curve Government-imposed taxes cause reductions in the activity that is being taxed,…

A: The tax rate and the quantity are given in the table. The table is as follows:

Q: The market demand for steel is QD = 240–6P and the market supply for steel is QS= –60 +4P.…

A: In a competitive market, there exists a large number of buyers and sellers of the good in the…

Q: The government decides to impose a unit-tax on producers instead of a unit-sales tax on consumers,…

A: Tax incidence is the contribution of the burden of the tax imposed by the government. It is based on…

Q: nington s ome tax llabllity ах Па HE 2017 tax rate schedule in appendix D in - ook). b. What is…

A: Tax liability is the amount of money in the form of tax debt you owe to tax authorities. Here, we…

Q: Consider the following categories of taxes: I. wealth tax II. consumption tax III. Direct tax…

A: Note- We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: eryone reports his or her income to the government; individuals and families earning a higher income…

A: The negative income tax is a method for giving individuals under a specific pay level with cash. ...…

Q: Suppose you are a typical person in the U.S. economy. You pay 4 percent of yourincome in a state…

A: Taxes are referred to as mandatory contributions which are levied on individuals or businesses by…

Q: Questions and Problems 1. The nation of Fishkasar has a tax rate of 5% on the first 20,000 walops…

A: Answer in step 2

Q: Assume you are a fresh graduate from UPSA with Public Finance as one of your specializations. You…

A: Taxation is one of the most important aspects of a country. The government receives the money by…

Q: 1. Match the description to the type of tax, v Tax on the use of vehicles, gasoline, alcohol,…

A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question…

Q: 40. The most efficient tax system has a broad tax base and a low tax rate. A) True B) False

A: Tax is a compulsory payment by the individuals and firms or businesses to the government for making…

Q: 10. Which of the following best describes government revenue? a) Government programs designed to…

A: Government of a nation needs money to finance its spending.  Government has two sources of…

Q: USes a tax of S0.60 per soft drink purchased. The price paid by the consumer becomes = b) Refer to…

A: Imposition of tax on goods sold decreases supply of the good.

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: 16 Suppose the government imposed a per unit tax of S6 on buyers. 14 12 Work out the following. 10…

A: Given information Equilibrium Quantity after tax=20 Tax rate=$6 per unit Price paid by consumer…

Q: Income Percent of Income Paid in Tax Total amount of Tax Paid Family A $10,000 20% $2,000 Family B…

A: Tax rate is the percentage of income that is deducted to pay to government as taxes

Q: suppose the government levles an excise tax of $3.00 per pack on cigarette buyers. Draw after-tax…

A: The taxes are the form of market regulations that drives a wedge between the price paid by the…