a. What is a value-added tax and how does it work? b. Evaluate the rate structures of

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a. What is a value-added tax and how does it work?

b. Evaluate the rate structures of the two proposed taxes. Are they proportional, progressive, or regressive?

c. What, if anything, is wrong with Tom's and/or Joe's point of view? Be sure to explain this part in depth.

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Concepts In Federal Taxation 2018

ISBN: 9781337386074

25th Edition

Authors: Kevin E. Murphy, Mark Higgins

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Question Posted: Nov 14, 2018 09:23 AM

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a. What is a value-added tax and how does it work? b. Evaluate the rate structures of

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a A valueadded tax VAT is a flat tax rate applied to the value added at each stage of production Under the credit method discussed in the article as goods are sold the VAT is added to the sales price ...View the full answer

Concepts In Federal Taxation 2018

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