Washington Post columnist George Will once wrote the following: Corporations do not pay [sales] taxes; they collect them...
Washington Post columnist George Will once wrote the
following:
Corporations do not pay [sales] taxes; they collect them, passing
the burden to consumers as a cost of production.” – George Will
(2010).
Is George Will’s claim true? Why or why not?
Homework Answers
The given statement of the claim of George is true and the reason is that the tax is also added in determining the price that the consumer has to pay and this actually increases the price filed by the consumer and the producer is not affected and this increases in the net price and therefore the burden is shifted to the consumers from the producers
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Washington Post columnist George Will once wrote the following: Corporations do not pay [sales] taxes; they collect them...
11.Washington Postcolumnist George Will once wrote the following:“Corporations do not pay [sales] taxes; they collect them,...
11.Washington Postcolumnist George Will once wrote the following:“Corporations do not pay [sales] taxes; they collect them, passing the burdento consumers as a cost of production.” - George Will (2010)What is the main problem with Will’s statement? (A) Corporations are subject to other taxes, such as capital gains and earned interest. (B) Producers and consumers share the burden of taxation, according to supply anddemand elasticities. (C) Legal ramifications for tax evasion include fines and imprisonment, thus deterringcorporations from such behaviour. (D)...
11. Washington Post columnist George Will once wrote the following: "Corporations do not pay [sales] taxes; they co...
11. Washington Post columnist George Will once wrote the following: "Corporations do not pay [sales] taxes; they collect them, passing the burden to consumers as a cost of production." - George Will (2010) What is the main problem with Will's statement? (A) Corporations are subject to other taxes, such as capital gains and earned interest. (B) Producers and consumers share the burden of taxation, according to supply and demand elasticities (C) Legal ramifications for tax evasion include fines and imprisonment,...
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11. Washington Post columnist George Will once wrote the following: "Corporations do not pay [sales] taxes; they collect them, passing the burden to consumers as a cost of production." - George Will (2010) What is the main problem with Will's statement? (A) Corporations are subject to other taxes, such as capital gains and earned interest. (B) Producers and consumers share the burden of taxation, according to supply and demand elasticities (C) Legal ramifications for tax evasion include fines and imprisonment,...
Figure 1: A Producer Tax SUPPLY(Wth ta SUPPLY 10 8 DEMAND 600 500 7. The American Federation of Labor (AFL) is a collection of labour unions that was formed in 1886 to protect the interests of unionized workers. In the 19th Century, the AFL opposed immigration. From an economic perspective, why? (A) Immigrants do not bring shared cultural values. (B) Immigrants overwhelmingly vote Republican. (C) Immigrants can harm the productivity of AFL workers. (D) Immigrants compete for jobs with AFL...
using the information fill out the 1040 tax form
1:9-72 George Large (SSN 000-11-1111) and his wife Marge Large (SSN 000-22-2222) live at 2000 Lakeview Drive, Cleveland, OH 49001 and want you to prepare their 2017 income tax return based on the information below: George Large worked as a salesman for Toyboat, Inc. He received a salary of $80,000 ($8,500 of federal income taxes withheld and $1,800 of state income taxes withheld) plus an expense reimbursement from Toyboat of $5,000...
Business Events and Transactions for August 2019: The following transactions that occurred during the first week of August are to pay the outstanding liabilities from July 31" • August 1 Pay the July accrued interest to the bank. Also make a $40,000 payment on the bank note principal • August 5 Sunhurst Country Club, LLC paid its outstanding accrued July payroll of $7,000 plus an additional $1,000 for salaries incurred between August 1 and August 5. • August 7 Sunhurst...
Match the following: Adam Smith David Ricardo John Maynard Keynes Choices: (2 are not used.) a. founder of modern market economics comparative advantage-argument for mutual benefits of international trade comparative advantage-emphasized job displacements of international trade founder of modern macroeconomics invented capitalism duo If a firm has trouble selling its good, it can lower price. increase demand. decrease supply. both a) and b) are correct. 6. People often pay too much for goods because they are not aware of which...
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