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Author Question: What are the different types of tax systems? Give one example of each type of tax. What will be ... (Read 31 times)

clippers!

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on: Jun 29, 2018
What are the different types of tax systems? Give one example of each type of tax.
 
  What will be an ideal response?

Question 2

An economy can achieve faster economic growth without ______.
 
  A. markets and property rights
  B. people being willing to save and invest
  C. incentives to encourage the research for new technologies
  D. an increase in the population growth rate


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ktidd

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Reply #1 on: Jun 29, 2018
Answer to Question 1

In progressive tax systems, higher income levels face higher average tax rates. In a proportional tax system, households pay the same percentage of their incomes in taxes regardless of their income level; in other words, the average tax rate does not vary with income. In a regressive tax system, the average tax rate declines with income so that low-income households pay a greater percentage of income in taxes than do high-income households. In the United States, income taxes (except flat-rate state and local income taxes) are progressive. Social Security and sales taxes are regressive.

Answer to Question 2

D The other answers are necessary conditions for economic growth.


clippers!

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

ghepp

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Reply 3 on: Yesterday
Excellent

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