- Tags:
- Show more
- Pages:
- 2
- Words:
- 550
Student’s Name: Professor: Course: Date: Coursework Assignment Q1. What is the difference between a progressive tax and a regressive tax? A progressive tax takes larger amounts of income percentages from the taxpayers depending on the rising of their salary. The regressive tax is the opposite of progressive tax where the taxpayers who earn high-income pay less percentage of tax than the low-income taxpayers (Wilson, 2016). Q2. The payroll taxes support which three major social welfare programs? The payroll taxes are involved in supporting the unemployment compensation program, Medicare, and the unemployment insurance program. Q3. What are the four constitutional limitations on the power to tax? All taxes that are indirect should impose at the same rate throughout the state Taxes are only levied for the best interest of the public and not the interests of the private sectors It is prohibited to impose tax on exports The taxes imposed should be evenly apportioned among the nations Q4. What is the one implied limitation that power? The local governments and the State cannot be taxed when using the funds for government operations that concern the public such as education and healthcare enhancements. Q5. Demonstrate Reasoned Judgment: Which do you think is more air, a direct or an indirect tax? Explain The indirect tax is more air because it is levied on spending such as the Value Added Tax and services. The indirect tax may be changing the demand curve for consumers through the varying prices and thus affecting the customer’s spending decision. Q6. What is the difference between an annual deficit and the public debt? The annual deficit is
Leave feedback