What are the pros and cons of the two tax methods

Assignment Help Business Economics

Reference no: EM13851011

Some economists and policymakers argue in favor of replacing the current income tax in the USA with consumption tax. What are your opinions on the issue? How do think such change impacts your income and expenditure pattern? Which tax methods do you prefer-income tax or consumption tax? Why? What are the pros and cons of the two tax methods?

Reference no: EM13851011

Questions Cloud

Tax revenues to decline with higher excise taxes : Explain why excise taxes are more effective at raising tax revenues when applied to products with price inelastic demand versus ones with price elastic demand. Under what conditions would it be possible for tax revenues to decline with higher excise ..

Paper about the future view of environment : A paper about the future view of environment and community development. Using Leopold's "February" as a model, use this short writing assignment to describe what a tree planted today would ‘experience' occurring around it if the tree is lucky enou..

Exchange rate-what monetary or fiscal policy must it use : If a country wants to fix its exchange rate at a rate that is higher than the market rate, what monetary or fiscal policy must it use? If a country wants to fix its exchange rate at a rate that is higher than the market rate, what monetary or fiscal ..

Three policies used to restrict trade : Three policies used to restrict trade are: Tariffs, Quotas, and regulatory trade restrictions. Discuss pros and cons of each. If the government has to decide on one which one it will?

What are the pros and cons of the two tax methods : Some economists and policymakers argue in favor of replacing the current income tax in the USA with consumption tax. What are your opinions on the issue? How do think such change impacts your income and expenditure pattern? Which tax methods do you p..

What will it likely do to lawyers wages : Global outsourcing has cost the U.S. economy far more than one million jobs since 2001, or somewhere between 15 and 35 percent of the total decline in employment since the onset of the 2001 recession. What will it likely do to lawyers' wages? How doe..

Keynesian model-output exceeds aggregate expenditures : In the simple Keynesian model, if output exceeds aggregate expenditures, According to the Keynesian analysis, as income increases, the marginal propensity to consume will rise. In the classical model, a self-regulating market would. According to the ..

Find all the nash equilibrium in pure strategies : Bruce, Colleen, and David are all getting together at Bruce’s house on Friday evening to play their favorite game, Monopoly. They all love to eat sushi while they play. They all know from previous experience that two orders of sushi are just the righ..

Find the average cost per unit : This month your vendor invoiced $50,000 in testing charges for your production run. The unit cost for testing is twice as much for each of the first 500 units per month as compared to each unit over 500. If 750 units were shipped to the vendor this m..

User Account

All Pages