Why is the federal income tax progressive

Assignment Help International Economics

Reference no: EM13200056

Taxes greatly influence U.S. economy. Because of this influence, it is good to know the effects they have in the economy and on a personal level. Complete the following to gain a better idea of the various types of taxes, their influences, and how they influence the economy.
Why is the federal income tax progressive, while sales and excise taxes are regressive?
Why do you think they were designed this way?
If you could, would you change anything with these taxes? Why or why not? Explain.
Can anything be improved one way or another?
Do you think the argument against redistributing income through income taxes based on reducing economic efficiency is a strong one? Explain.
Provide an example where a business did not expand because the possible taxes on the profits due to that expansion. Has this happened to your work? What are your thoughts on this?

Reference no: EM13200056

Questions Cloud

How many employees a profit maximizing business could hire : Your personalized sweatshirt business requires you to hire specially trained employees, so you are a monopsonist. Remember that you must pay everyone the same wages. There is no discrimination.

What is the value of the longest side id the perimeter : a rectangle has a length of 3x minus 2 inches and a width of x plus 3 inches. what is the value of the longest side id the perimeter is 106 inches?

What is the lenght of the prism : the volume of a rectangular prism is 208 cm3. If the area of one end is 16 cm2, what is the lenght of the prism?

Compute what is the probability of picked at random : What is the probability, Pn where n = 1, 2, 3, that a little cube (one of the 64) picked at random will have n painted faces?

Why is the federal income tax progressive : Taxes greatly influence U.S. economy. Because of this influence, it is good to know the effects they have in the economy and on a personal level. Complete the following to gain a better idea of the various types of taxes, their influences, and how..

Compute what is the probability of event : A golf bag contains 6 white balls and 8 yellow balls. What is the probability of each event?

Case study: building an access control system : Define five major tasks, each with one to two subtasks. Also write a brief description for each task and create a Gantt chart illustrating the project tasks (use Microsoft Project or a similar project management program).

Discuss how bidding c is a weakly dominant strategy : All of the firms will submit sealed bids. The procurement officer will look at all of the bids and select the lowest bid but pay to the lowest bidder a price equal to the price bid by the second lowest bidder. Show that bidding c is a weakly domin..

State the probability that average catch is less : A survey of 250 lobster fisherman found that they catch an average of 32 pounds of lobster per day with a standard dev of four pounds. If a random sample of 30 lobster fishermen is selected, what is the probability that their average catch is less..

User Account

All Pages