Yes, provided the money is used for the greater good like medical research. You only need so much money to live or even pursue hobbies; anything after that is just unnecessary vanity and greed.
The rich do in fact pay a higher percentage of their income in income tax, because we have a progressive income tax based on six different tax brackets, where the higher your income is the higher a percentage tax bracket you will be in. Depends on which country you're in. In the US, this is not the case.
Income taxes are usually progressive, so would effect the wealthy the most, while sales taxes would have a greater effect on the poor.
Federal revenues come from a variety of sources that include payroll taxes and individual income taxes. Other sources of federal revenues are corporate income taxes and excise taxes.
Taxes are any country's government's source of income
Taxes are reduced, so people have increased income to spend.
The rich do in fact pay a higher percentage of their income in income tax, because we have a progressive income tax based on six different tax brackets, where the higher your income is the higher a percentage tax bracket you will be in. Depends on which country you're in. In the US, this is not the case.
In most cases, people who receive benefits from disability insurance will not be required to owe any taxes on that money. However, there are some cases when people with certain income levels will be required to pay taxes on disability insurance income. If a person has disability income and earns a salary that is greater than $25,000 and less than $34,000, then he or she will have to pay taxes on 85% of all disability income received in the past year. If a person earns more than $34,000, then he or she will have to pay taxes on a greater portion of the disability income.
The government should eliminate state income taxes.
Income taxes are usually progressive, so would effect the wealthy the most, while sales taxes would have a greater effect on the poor.
If your employer pays part of your personal income directly to the government, that is called withholding taxes.
No. However, you can deduct property taxes from your federal tax liability.
When you earn income from an employer, the employer automatically withholds a portion of your salary for federal income taxes, which they remit to the government on your behalf.
Yes, you have to pay taxes on your retirement at a rate determined by your retirement income, which should be much lower than your working income. Yes, you have to pay taxes on your retirement at a rate determined by your retirement income, which should be much lower than your working income.
It depends on your length of stay. If you are out of the country more than 331 (I believe) days, a certain portion of the income is exempt. Any income after that you owe taxes on. Ask your tax preparer.
Income taxes are usually progressive, so would effect the wealthy the most, while sales taxes would have a greater effect on the poor.
income taxes
the rich people should pay more taxes.