Author Question: How are income taxes calculated? How would a flat tax affect individuals and businesses? What ... (Read 19 times)

s.tung

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How are income taxes calculated? How would a flat tax affect individuals and businesses?
 
  What will be an ideal response?

Question 2

What is meant by NIMBY? Give an example of how it might happen.
 
  What will be an ideal response?



eliasc0401

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Answer to Question 1

An ideal response will:
1, Explain that income taxes are based on marginal tax brackets and are progressivethe more money an individual makes, the higher the percentage to be paid in taxes.
3, Outline the basic concepts of a flat tax, such as that proposed by U.S. Congressman Dick Armey, noting that all income over the exempted amount would be taxed at 17 percent; net business income would be taxed at the same rate, many lower-income families would pay no income tax at all, and tax preparation would be much less complicated for most taxpayers.

Answer to Question 2

An ideal response would be:
Neighborhood groups sometimes become engaged in protecting their neighborhoods and petitioning for improvements. One concern that often activates them is the possibility that undesirable facilitiessuch as drug treatment clinics, prisons, dumps, or homeless sheltersmay be located in their neighborhood. Although attendance at local government meetings is usually low, the announcement of a landfill or a prison construction project often stimulates the reaction that local officials call NIMBY, an acronym for Not In My Back Yard This response can have the perverse effect of forcing facilities such as airports to remain in densely populated areas because it is too difficult to find alternative sites for them.



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