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What is payroll taxes classified as regressive or proportional or progressive?
Wiki User
∙ 13y ago
Payroll taxes are proportional, aka, progressive. A progressive tax recognizes that high income earners are more able to pay taxes than their low income counterparts, and that, in order to pay their fair share, they must pay a greater proportion of their (large) incomes to the state than that proportion paid by low earners.
By contrast, Sales taxes are regressive, because by taxing consumption at the same rate regardless of an individuals income & wealth circumstances, they are effectively taking a greater proportion of low earners disposable cash.
The moral principle here is fundamental to the split between American Conservatives (Republicans) and Liberals (Democrats.) In general, the Right Wing of the Republican party beliefs that property rights are above all sacrosanct, while the Left Wing of the Democratic party sees social justice as an essential goal of government, as well as a practical necessity for a modern economy.
The terms progressive and regressive can be used in a mix and match fashion. A "luxury tax" is a progressive version of a sales tax... the rationale is that, because items such as foreign sports scars, yachts, and $10m homes are typically bought by high income individuals, the state can achieve some level of social justice by levying special taxes on these items.
Still, your point of view influences whether you see a tax as progressive or regressive. Billionaire Larry Ellison can pay the luxury tax on his yacht much more easily than millionaire Joe Blow could on a similar boat. Thus a truly progressive luxury tax would means test the buyer (eg, use the AGI off his 1040) and charge him a proportionately higher amount. In a just (leftist) society, the graduated luxury tax would be so severe that the absolute best yacht Ellison would be able to afford would be nearly the same as everyone else's boat.
Value Added Taxes (VAT) are a European thing, and thus not worth discussing here.
Wiki User
∙ 13y ago
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Is payroll tax regressive or progressive?
Regressive
Why is payroll classified as semi variable expenses?
Payroll contains the fixed part in the form of the basic salary or the wage paid. Other than that a worker might go for overtime and this comes under the variable part. Moreover any incentive such as commission etc also forms the variable part hence payroll is a semivariable expense.
What is payroll signature?
A payroll signature is the authorized signature for payroll checks.
Name of the occupation that does payroll?
There are many job functions in payroll. In a small company, the owner's wife may be the office manager which includes calculating and writing payroll checks and paying taxes. In a larger company, there may be a payroll clerk who reports to an accountant, or a payroll department with a Payroll Director, a Payroll Manager, many payroll supervisors, payroll specialists and payroll clerks. Each has different job functions. The payroll process can be housed in Accounting or in Human Resources.
How do you figure out weekly payroll?
how do you figure out weekly payroll I am not interested in payroll services.
Is payroll tax regressive or progressive?
Regressive
What can be classified as add backs in a business?
Adding capable people to the payroll.
The inputs into a payroll system may be classified as either constants or variables All what are variables except for?
In the circumstances, none of the "following" are not variables.
What are classified as support worker jobs?
There are many jobs classified as "support workers". A few examples of support worker jobs are library technicians, teacher aides, bill and account collectors, tellers, and payroll clerks.
Why is payroll classified as semi variable expenses?
Payroll contains the fixed part in the form of the basic salary or the wage paid. Other than that a worker might go for overtime and this comes under the variable part. Moreover any incentive such as commission etc also forms the variable part hence payroll is a semivariable expense.
What are reasons and benefits of implementation of payroll?
If you have people working for you that can be classified as employees by the IRS then you MUST implement payroll. You have no choice. The employer or the employee cannot choice whether someone is an employee or an independent contractor. There are strict rules that must be followed to determined a person's status.
What is payroll signature?
A payroll signature is the authorized signature for payroll checks.
Paperless Payroll?
form_title=Paperless Payroll form_header=Go green with paperless payroll! Have you ever used a paperless payroll system before?= () Yes () No How many people are on your payroll?=_ Approximately how much is your payroll costs per week?=_ What is the payroll schedule?=_
Name of the occupation that does payroll?
There are many job functions in payroll. In a small company, the owner's wife may be the office manager which includes calculating and writing payroll checks and paying taxes. In a larger company, there may be a payroll clerk who reports to an accountant, or a payroll department with a Payroll Director, a Payroll Manager, many payroll supervisors, payroll specialists and payroll clerks. Each has different job functions. The payroll process can be housed in Accounting or in Human Resources.
How do you figure out weekly payroll?
how do you figure out weekly payroll I am not interested in payroll services.
What is book-keeing for payroll?
what s the payroll bookkeeping? what s the payroll bookkeeping?
What is the journal entry for accrued payroll?
debit to payroll expense credit to accured payroll
