Excise taxes on tobacco and alcohol and state sales taxes are often criticized for being regressive. Although
Question:
Excise taxes on tobacco and alcohol and state sales taxes are often criticized for being regressive. Although everyone pays the same rate regardless of income, why might this be so?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
Excise taxes on tobacco and alcohol and state sales taxes are often criticized for being regressive because they take a larger percentage of income fr...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Is there a tax on the poor? The tax on income is progressive in that higher income individuals pay at a high rate than lower-income people. For example, the top 0.1 percent of taxpayers earn 9.1...
-
Factors that affect the selection of an inventory costing method do not include: (a) tax effects. (b) balance sheet effects. (c) income statement effects. (d) perpetual vs. periodic inventory system.
-
In a gambling game, Player A and Player B both have a $1 and a $5 bill. Each player selects one of the bills without the other player knowing the bill selected. Simultaneously they both reveal the...
-
When Earth first formed, its elements were distributed evenly. Rank, from first to last, the episodes that brought about Earths uneven distribution of elements: (a) Gravitational contraction heating,...
-
State the advantages of a CRSA system for: (a) company managers (b) risk managers (c) internal auditors (d) companies as a whole.
-
Water Sport Inc. manufactures a small personal water tube used for children learning to swim. Management is now preparing detailed budgets for the third quarter, July through September, and has...
-
What role did conformity play in this scenario? What type of communication climate existed after Rita arrived? What mistakes do you think Rita made as a leader in this case? What specific...
-
What is the benefit of having state and local taxes on income instead of collecting all such taxes at the federal level?
-
Why is spending by the U.S. government on scientific research at NASA fiscal policy while spending by the University of Illinois is not fiscal policy? Why is a cut in the payroll tax fiscal policy...
-
Ethical Considerations. How did the decoupling of risk and reward contribute to the problems in the subprime mortgage industry?
-
A point source is fixed \(1.0 \mathrm{~m}\) away from a large screen. Call the line normal to the screen surface and passing through the center of the point source the \(z\) axis. When a sheet of...
-
What can and can't we learn from successful start-ups like Pandora's Box and Spotify?
-
The bottom edge of a wall-mounted mirror aligns with your waist, and the top edge aligns with a point somewhere above your head. Draw a diagram that illustrates, when you stand in front of this...
-
What is the purpose of staged financing?
-
What are the key differences between financing entrepreneurial and established companies?
-
Use the values in the joint probability table to solve the equations given. a. P(A F) = _______ b. P(E B) = _______ c. P(B C) = _______ d. P(E F) =_______ | 3 | 2 | 6 | 7 0-1-0-0 1-0-2-3 BCD
-
What are some of the possible sources of information about a company that could be used for determining the companys competitive stance?
-
Describe the steps of a talent review session.
-
What is the first step in defining an organizations pay-for-performance strategy?
-
What are some best practices for recruiting new leadership candidates?
-
A real life example of how we use the Impulse formula (Force x Time = Change in momentum) to our benefit is in:
-
A company uses the periodic inventory system and had the following activity during the current monthly period. November 1: Beginning inventory November 53 Purchased November 85 Purchased November 16:...
-
On January 1, 2024, Presidio Company acquired 100 percent of the outstanding common stock of Mason Company. To acquire these shares, Presidio issued to the owners of Mason $330,000 in long-term...
Study smarter with the SolutionInn App