Question: Why do we pay specific taxes and not one or two flat taxes? Where does the tax money go?

Why do we pay specific taxes and not one or two flat taxes? Where does the tax money go?

Step by Step Solution

★★★★★

3.42 Rating (152 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

We pay specific taxes instead of one or two flat taxes for several reasons 1 Fairness and Equity Specific taxes are often tailored to different types of income transactions or activities to ensure tha... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Law Questions!

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...

The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...

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...

Why do we pay specific taxes and not one or two flat taxes? Where does the tax money go?

Progression of Taxes! Directions: Everyone has to pay taxes, so it is good to figure it in your finances before you even get your first paycheck. Complete this class activity to see how different...

Learning Objective: to compute tax liability based on taxable income. Mr. Smith has had a very good year. It is early November, and he wants to ensure he sets enough money aside to pay his taxes next...

I need help with putting together the tax forms as describe in Milestone 4. I also attached the overview for the entire project and the everything up to this point written in the document labeled tax...

HE STEP-BY-STEP SOLUTION TO: Question 1 of 100 -The law enforces promises through the use of laws. regulations. contracts. policies. 2 of 100 -A substantive law establishes and controls rights and...

This question doesn't violate honor code it is for my personal knowledge. I just need help with the questions below I have a California Real Estate Exam that is coming up soon at the end of this...

Refer to the data in Exercise 6-31. Compute the individual product costs per unit assuming that Tiger Furnishings uses direct labor costs to allocate overhead to the products.

Which standard of measure is the best for measuring financial transactions?

Item 1 2 Part 1 of 2 1 . 1 5 points Time Remaining 1 hour 1 4 minutes 5 1 seconds 0 1 : 1 4 : 5 1 Print Item 1 2 Time Remaining 1 hour 1 4 minutes 5 1 seconds 0 1 : 1 4 : 5 1 Required information...

An investor can design a risky portfolio based on two stocks, A and B. The standard deviation of return on stock A is 20% while the standard deviation on stock B is 15%. The correlation coefficient...

Heart Rates For a certaln group of individuals, the average heart rate is 73 beats per minute. Assume the variable is normaly distributed and the standard deviation is 2 beats per minute. If a...

Let p , q , and r represent the ff statements: p : Chloe went to school. q : Her mom washed the dishes after dinner. r : Alfred made a surprise gift. Write the symbolic form of this statement:...

Write T if the statement is true, F if the statement is false and X if the statement is not a proposition. 17. Canada is the capital of USA. 18. When x = 3, then x is odd.

The return of goods to the supplier will affect the purchase account. Question 27Answer True False

Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 21,732 miles during 2012, of which 95 percent was business mileage. The actual cost of...

Indicate, in each of the following situations, the number of exemptions the taxpayers are entitled to claim on their 2012 income tax returns. Number of Exemptions a. Donna, a 20-year-old single...

Quince Corporation has taxable income of $450,000 for its 2012 calendar tax year. Calculate the corporation's income tax liability for 2012 before tax credits. $_________

=+factors. From about the mid-1990s to 2010, Kentuckys annual average API and DPI were found to be closely related to the annual average crude oil price. Based on this, the authors suggested that...

=+12. Historically, reinforced concrete structures used externally bonded steel plates to add strength and support. Recently, fiber reinforced polymer (FRP) plates have been used instead of steel...

=+11. Torsion during external rotation and extension of the hip may explain why acetabular labral tears occur in professional athletes. The article Hip Rotational Velocities During the Full Golf...