a. If your income increases and you are subject to a proportional tax system, what will...
a. If your income increases and you are subject to a proportional tax system, what will happen to the percentage of your income that is taxed?
b. If you income increases and you are subject to a regressive tax system, what will happen to the percentage of your income that is taxed?
c. If you income increases and you are subject to a progressive tax system, what will happen to the percentage of your income that is taxed?
Homework Answers
A. In Proportional tax system, the tax charges always constant whether there is increase or decrease in the income .
So as there is income increase the tax charged will be same.
B. In regressive tax system as the income increases the tax decreases so I will charge by less tax as my income increases and vice versa.
C. In progressive tax system as the income Rises the tax also increases.
This type of tax system is very common in many countries like United States for Asian countries like India
Add Answer to:
a. If your income increases and you are subject to a
proportional tax system, what will...
13 a. The following tax proposal has income as the tax base. Calculate the marginal tax...
13 a. The following
tax proposal has income as the tax base. Calculate the marginal tax
rate for an income of $5,000 and an income of $40,000. Then,
calculate the percentage of income paid in taxes for an individual
with a pre‐tax income of $5,000 and for an individual with a pre
tax income of $40,000. Classify the tax as being proportional,
progressive, or regressive. Round answers to two places after the
decimal, where applicable.
Tax Proposal: All income is...
What is the structure of the U.S. income tax system? A. The U.S. income tax system...
What is the structure of the U.S. income tax system? A. The U.S. income tax system is a progressive tax system where the marginal tax rate exceeds the average tax rate. B. The U.S. income tax system is a regressive tax system since higher income individuals pay a higher tax. C. The U.S. income tax system is basically a proportional tax system since all people with the same income pay the same tax. D. The U.S. income tax system only...
6. Federal Income Tax in the US in general are: Regressive tax system Flat tax...
6. Federal Income Tax in the US in general are: Regressive tax system Flat tax system Progressive tax system Proportional tax system
1. The percentage of an additional dollar that is paid in tax is called A. a...
1. The percentage of an additional dollar that is paid in tax is called A. a regressive tax. B. the average tax rate. C. a proportional tax. D. the marginal tax rate. E. a progressive tax. 2. If the average tax rate remains constant as income? changes, the tax is A. progressive. B. regressive. C. definitely fair. D. proportional. E. impossible to determine with the information given. 3. When each taxpayer pays the same average tax rate regardless of the?...
Need help with Tax problems. Understanding taxes In general, is the U.S. federal tax system progressive...
Need help with Tax problems.
Understanding taxes In general, is the U.S. federal tax system progressive or regressive? O Progressive Regressive You bought 1,000 shares of Tund Corp. stock for $68.12 per share and sold it for $90.03 per share after a few years How will your gain or loss be treated when you file your taxes? O As a capital gain taxed at the long-term tax rate O As a capital gain taxed at the current ordinary-income tax rate...
8. The tax system Understanding taxes In general, is the U.S. federal tax system progressive or...
8. The tax system Understanding taxes In general, is the U.S. federal tax system progressive or regressive? O Regressive O Progressive You bought 1,000 shares of Tund Corp. stock for $68.12 per share and sold it for $90.03 per share after a few years How will your gain or loss be treated when you file your taxes? O As a capital gain taxed at the long-term tax rate O As a capital gain taxed at the current ordinary-income tax rate...
A tax whose average rate is increasing as the amount taxed increases is: Select one: a....
A tax whose average rate is increasing as the amount taxed increases is: Select one: a. congressive b. progressive c. regressive d. revenue neutral e. aggressive
Use the information in the table to answer the questions about the tax system in the...
Use the information in the table to answer the questions about the tax system in the country of Lilliput. Calculate the income tax rate for each person and enter it as a percent. Income Taxes paid Joey 890000 $27000 Monica $80000 $20000 Chandler $75000 $15000 Joey's tax rate: Monica's tax rate: Chandler's tax rate: Is this a progressive, regressive, or proportional tax system? Suppose the government of Lilliput voted to decrease taxes on the top earners and increase it on...
A tax that requires those with low incomes to pay a smaller percentage of their income...
A tax that requires those with low incomes to pay a smaller percentage of their income than high-income earners is a: flat tax. proportional tax. progressive tax. regressive tax.
2. Suppose that a tax system is set up as follows: Everyone gets to subtract $3,000...
2. Suppose that a tax system is set up as follows: Everyone gets to subtract $3,000 from their income and then pays the government 20 percent of the rest. Is this tax proportional, progressive, or regressive? Show your reasoning. (Hint: Calculate what households with incomes of $10,000 per year, $50,000 per year, and $100,000 per year would pay in taxes and what percentage of their total income their taxes represent.)
13 a. The following
tax proposal has income as the tax base. Calculate the marginal tax
rate for an income of $5,000 and an income of $40,000. Then,
calculate the percentage of income paid in taxes for an individual
with a pre‐tax income of $5,000 and for an individual with a pre
tax income of $40,000. Classify the tax as being proportional,
progressive, or regressive. Round answers to two places after the
decimal, where applicable.
Tax Proposal: All income is...
Need help with Tax problems.
Understanding taxes In general, is the U.S. federal tax system progressive or regressive? O Progressive Regressive You bought 1,000 shares of Tund Corp. stock for $68.12 per share and sold it for $90.03 per share after a few years How will your gain or loss be treated when you file your taxes? O As a capital gain taxed at the long-term tax rate O As a capital gain taxed at the current ordinary-income tax rate...
8. The tax system Understanding taxes In general, is the U.S. federal tax system progressive or regressive? O Regressive O Progressive You bought 1,000 shares of Tund Corp. stock for $68.12 per share and sold it for $90.03 per share after a few years How will your gain or loss be treated when you file your taxes? O As a capital gain taxed at the long-term tax rate O As a capital gain taxed at the current ordinary-income tax rate...
Use the information in the table to answer the questions about the tax system in the country of Lilliput. Calculate the income tax rate for each person and enter it as a percent. Income Taxes paid Joey 890000 $27000 Monica $80000 $20000 Chandler $75000 $15000 Joey's tax rate: Monica's tax rate: Chandler's tax rate: Is this a progressive, regressive, or proportional tax system? Suppose the government of Lilliput voted to decrease taxes on the top earners and increase it on...
2. Suppose that a tax system is set up as follows: Everyone gets to subtract $3,000 from their income and then pays the government 20 percent of the rest. Is this tax proportional, progressive, or regressive? Show your reasoning. (Hint: Calculate what households with incomes of $10,000 per year, $50,000 per year, and $100,000 per year would pay in taxes and what percentage of their total income their taxes represent.)
Most questions answered within 3 hours.
-
The proportion of adult women in a certain geographical region
is approximately 51%. A marketing survey...
asked 5 minutes ago -
I am trying to answer a question that is asking why there was no
evidence of...
asked 15 minutes ago -
Power elecrtonics: buck converter?
Calculate and plot (via excel/MATLAB) the average V(out) of a
buck converter...
asked 17 minutes ago -
PLEASE USE PYTHON
training error should strictly decrease as the degree of the
hypothesis polynomials increases....
asked 22 minutes ago -
Using the Table and data below, create a procedure that accepts
product ID as a parameter...
asked 23 minutes ago -
Suppose X follows an exponential distribution with mean 7.5.
Determine the conditional probability P(x > 2.5...
asked 46 minutes ago -
Young softball batters are often instructed to “choke-up on the
bat” by their coach. In terms...
asked 50 minutes ago -
Suppose that you are an official with Mexico's economic
development agency. Write a one-page memo detailing...
asked 1 hour ago -
If you were an international firm, why would you support the
concept of global free trade?...
asked 1 hour ago -
Cisco packet tracer
Q1) Do you get any changes of IP address when packet is
traversing...
asked 2 hours ago -
What is the pressure inside a 33.0 L container holding 106.4 kg
of argon gas at...
asked 3 hours ago -
Question no 2
A housekeeping support department budgets its costs at
SR 40,000 per month plus...
asked 3 hours ago