QUESTION 28 Which of these tax systems does not allow for vertical equity (different treatment of...
QUESTION 28
-
Which of these tax systems does not allow for vertical equity (different treatment of different people)
proportional tax
progressive tax
regressive tax
lump-sum tax
Homework Answers
Vertical equity us a method of collecting income tax in which the taxes paid increase with the amount of earned income.
For lump-sum tax , this is not the case. Here a fixed amount is paid irrespective of the income earned. Hence the correct option that does not allow for vertical equity is
lump-sum tax.
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QUESTION 28
Which of these tax systems does not allow for vertical equity
(different treatment of...
Which of these tax systems does not allow for vertical equity (different treatment of different people)...
Which of these tax systems does not allow for vertical equity (different treatment of different people) a. proportional tax b. progressive tax c. regressive tax d. lump-sum tax
QUESTION 28 Which of these tax systems does not allow for vertical equity (different treatment of...
QUESTION 28 Which of these tax systems does not allow for vertical equity (different treatment of different people) O proportional tax O progressive tax O regressive tax Olump-sum tax QUESTION 29 When a tax is justified on the basis that taxpayers receive specific government services, the tax is considered a horizontally equitable burden is minimized satisfies the benefits principle is considered vertically equitable QUESTION 30 The argument that each person should pay taxes according to how well the individual can...
Question Completion Status QUESTION 25 Which of these is most influential on your decision to work...
Question Completion Status QUESTION 25 Which of these is most influential on your decision to work extra hours at your job o the averge tax rate the total tax bill the marginal tax rate e the lump sum tax rate QUESTION 26 As tax laws become more complex compliance costs are likely to decrease e the government will collect more tax revenue o tax evasion and avoidance will decrease e the administrative burden of taxes will increase QUESTION 27 If...
TULE TUL. MULTI 21 NUV-2019 Fall Torm U... Question Completion Status: QUESTION 26 As tax laws become more complex...
TULE TUL. MULTI 21 NUV-2019 Fall Torm U... Question Completion Status: QUESTION 26 As tax laws become more complex compliance costs are likely to decrease the government will collect more tax revenue tax evasion and avoidance will decrease the administrative burden of taxes will increase QUESTION 27 If the government imposes a $3000 tax on everyone, the tax would be: an income tax a consumption tax alump-sum tax a marginal tax QUESTION 28 Which of these tax systems does not...
QUESTION 22 Products that create external benefits are over-consumed because the private benefits exceed the private...
QUESTION 22 Products that create external benefits are over-consumed because the private benefits exceed the private costs under-consumed because consumers only consider the private benefits of consumption O optimally consumed as long as private benefits equal private costs O underconsumed because the social costs exceed the social benefits QUESTION 23 The Coase theorem suggests that private bargains will ensure the efficiency of markets even when externalities exist but only in the presence of government regulation if consumers have more information...
Text questions Which of the following statements about tax collection is correct? Choose one: a. Vertical equity means...
Text questions Which of the following statements about tax collection is correct? Choose one: a. Vertical equity means that everyone should pay the same amount of tax in ISK. b. A regressive tax means that those with the highest incomes pay proportionally the lowest tax. c. The Laffer curve shows that tax revenue will always continue to grow as the tax collection rate grows. d. Progressive tax means that those with the highest income pay proportionally the lowest tax. e....
Question 8 (1 point) If the state government charges an 8% tax rate on the first...
Question 8 (1 point) If the state government charges an 8% tax rate on the first $50,000 in income earned, and then a 6% tax rate on all income above $50,000, this tax structure would be described as: )regressive. b) lump-sum. c) flat. )progressive.
Alan Greenspan, former Chairman of the Federal Reserve, discussed the advantages of which kind of tax...
Alan Greenspan, former Chairman of the Federal Reserve, discussed the advantages of which kind of tax system, particularly if one were designing a tax system from scratch"? e a. a progressive tax system e b. a regressive tax system c. a consumption tax O d. a lump-sum tax
Question 3 Assume the City of Norfolk used the following tax schedule for individuals: Income Tax...
Question 3 Assume the City of Norfolk used the following tax schedule for individuals: Income Tax 0-50,000 11% 50,001-100,000 8% 100,001 + 5% a. Briefly define horizontal and vertical tax equity (no more than two sentences per term). b. Mr. Monarch earned $150,000 this year. Compute his (1) Norfolk city tax, (2) average tax rate, and (3) marginal tax rate. c. Is the city of Norfolk's individual rate schedule regressive, proportional or progressive and what is the reasoning for your...
Question 8 (3 points) The column on the left shows the tax base and total tax...
Question 8 (3 points) The column on the left shows the tax base and total tax for two increasing base levels of a tax system. The column on the right classifies the tax rate structure of each tax system as progressive, proportional (flat), or regressive. Fill in the number of the column on the right which you think best classifies the tax rate structure on the left. Each classification may be used more than once. (1 point each) If the...
QUESTION 28 Which of these tax systems does not allow for vertical equity (different treatment of different people) O proportional tax O progressive tax O regressive tax Olump-sum tax QUESTION 29 When a tax is justified on the basis that taxpayers receive specific government services, the tax is considered a horizontally equitable burden is minimized satisfies the benefits principle is considered vertically equitable QUESTION 30 The argument that each person should pay taxes according to how well the individual can...
Question Completion Status QUESTION 25 Which of these is most influential on your decision to work extra hours at your job o the averge tax rate the total tax bill the marginal tax rate e the lump sum tax rate QUESTION 26 As tax laws become more complex compliance costs are likely to decrease e the government will collect more tax revenue o tax evasion and avoidance will decrease e the administrative burden of taxes will increase QUESTION 27 If...
TULE TUL. MULTI 21 NUV-2019 Fall Torm U... Question Completion Status: QUESTION 26 As tax laws become more complex compliance costs are likely to decrease the government will collect more tax revenue tax evasion and avoidance will decrease the administrative burden of taxes will increase QUESTION 27 If the government imposes a $3000 tax on everyone, the tax would be: an income tax a consumption tax alump-sum tax a marginal tax QUESTION 28 Which of these tax systems does not...
QUESTION 22 Products that create external benefits are over-consumed because the private benefits exceed the private costs under-consumed because consumers only consider the private benefits of consumption O optimally consumed as long as private benefits equal private costs O underconsumed because the social costs exceed the social benefits QUESTION 23 The Coase theorem suggests that private bargains will ensure the efficiency of markets even when externalities exist but only in the presence of government regulation if consumers have more information...
Text questions Which of the following statements about tax collection is correct? Choose one: a. Vertical equity means that everyone should pay the same amount of tax in ISK. b. A regressive tax means that those with the highest incomes pay proportionally the lowest tax. c. The Laffer curve shows that tax revenue will always continue to grow as the tax collection rate grows. d. Progressive tax means that those with the highest income pay proportionally the lowest tax. e....
Question 8 (1 point) If the state government charges an 8% tax rate on the first $50,000 in income earned, and then a 6% tax rate on all income above $50,000, this tax structure would be described as: )regressive. b) lump-sum. c) flat. )progressive.
Alan Greenspan, former Chairman of the Federal Reserve, discussed the advantages of which kind of tax system, particularly if one were designing a tax system from scratch"? e a. a progressive tax system e b. a regressive tax system c. a consumption tax O d. a lump-sum tax
Question 3 Assume the City of Norfolk used the following tax schedule for individuals: Income Tax 0-50,000 11% 50,001-100,000 8% 100,001 + 5% a. Briefly define horizontal and vertical tax equity (no more than two sentences per term). b. Mr. Monarch earned $150,000 this year. Compute his (1) Norfolk city tax, (2) average tax rate, and (3) marginal tax rate. c. Is the city of Norfolk's individual rate schedule regressive, proportional or progressive and what is the reasoning for your...
Question 8 (3 points) The column on the left shows the tax base and total tax for two increasing base levels of a tax system. The column on the right classifies the tax rate structure of each tax system as progressive, proportional (flat), or regressive. Fill in the number of the column on the right which you think best classifies the tax rate structure on the left. Each classification may be used more than once. (1 point each) If the...
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