In 1968, the Supreme Court ruled that citizens can sue to stop the government from spending that violates the Constitution. In a recent 5– 4 decision, the Court ruled that a tax credit that can be used for tuition payments at religious schools was not subject to challenge because a tax credit is not government spending. Do you agree with this decision? Your answer should take advan-tage of the concept of tax expenditures.
Answer to relevant QuestionsUnder current law, if your capital losses exceed your capital gains, you can deduct as much as $ 3,000 of losses against other forms of income. In the wake of massive declines in the stock market, in 2009 Senator Orrin Hatch ...Athletes who win Olympic gold medals also receive a cash award of $ 25,000. In 2012, President Obama supported legislation proposed by Senator Marco Rubio to exempt these winnings from federal taxation [Parnes, 2012]. Is ...Under current law, employer provided health care benefits are excluded from taxation. Use an indifference curve analysis to model the impact of eliminating the exclusion upon the amount of health care benefits. During the 2012 presidential campaign, Mitt Romney argued that even though he paid only about 14 percent in taxes on his investment income, his total tax burden was much higher because the income is also taxed through the ...In 2012, the government of French President Francois Hollande raised both personal and corporate tax rates. Hollande’s prime minister “insisted that the burden would fall mainly on corporations” [Erlanger, 2012]. ...
Post your question