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People below the poverty level typically do not pay income tax because their earnings fall below the taxable income threshold set by the government. Tax systems often include standard deductions and credits that effectively exempt low-income individuals from taxation, recognizing their limited financial capacity. Additionally, the goal of these policies is to alleviate financial burdens on the most vulnerable populations and to support their basic needs. This approach helps to promote economic stability and reduce inequality.
What else can I help you with?
What term describes an income level below that which is needed to support a family or a household?
Poverty threshold
What does income level mean?
what does income level mean?
What is a tax on people's earnings called?
A tax on people's earnings is commonly referred to as income tax. This tax is typically levied by governments on individuals and businesses based on their income or profits. The rates can vary depending on the income level and jurisdiction, often structured progressively, where higher earners pay a larger percentage.
What is income level?
i dont know! (: hahahaha
Are C corporations subject to corporate income tax?
Yes, C corporations are subject to corporate income tax. They are taxed at the corporate level on their profits, and then any dividends distributed to shareholders are taxed again at the individual level, leading to double taxation. This taxation occurs at the federal level, and many states also impose their own corporate income taxes.
What is the poverty threshold?
The "poverty line" is the level of income that separates the people who live in poverty from everyone else. It is not an official line and no specific income has been established as the "poverty line". It is an expression used in conversation to replace the lengthy expression "the level of income that separates poor people from people who are not poor".
What is the poverty line?
The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. People who have an income below the poverty line for the nation's cities was 578.
What income range is considered below poverty level?
probably income under 13,000 per year
Will people below the poverty level get a tax break on the fair tax?
I would imagine that people below the poverty level will get a tax decrease.
At what level are people considered to be low-income?
You are considered low income if you make more than the poverty level, but less than 150% of the poverty level. This also depends on where you live, and how many dependents you have. For a family of four in the United States in 2014, the poverty line is $23,850. If your household income is more than that, but less than $35,775, you are considered low income.
What is an income level called that is below what is needed to support families or housesholds?
poverty threshold
What is the median income for KY?
I got this information from http://projects.washingtonpost.com/elections/keyraces/census/ky Here is a chart of median income for Kentucky and for the whole U.S:KentuckyNationalMedian Household Income: $40,267Per capita Income: $21,951Male full-time, year round, workers median income:$39,920Female full-time, year round, workers median income:$29,957Families below poverty level: 13.2%Individuals below poverty level: 17.3%Median Household Income: $41,994Per capita Income: $21,587Male full-time, year round, workers median income:$37,057Female full-time, year round, workers median income:$27,194Families below poverty level: 9.2%Individuals below poverty level: 12.4%
What term describes an income level below that which is needed to support a family or a household?
Poverty threshold
What Distinguishes the poverty rate from the poverty level?
Poverty rate is simply the number of people who have a low income, whereas poverty level or poverty threshold is the minimum level of income deemed necessary to achieve an adequate standard of living in a given country. Persay your country said the standard of living should only cost $100 a month, if you made $105 a month then you would be apart of the poverty rate, because you qualify within that adequate standard of living, whereas people who could only make $75 a month would be below the poverty level because they could not live within the means of the adequate standard of living.
What income is considered poverty level for a family of 3 in BC Canada?
An income that is not the same as that of a government union worker is at the poverty level
What is condiderd poverty?
Some places in the USA it is below $60,000.00 a year. If you make less than $20,000.00 a year you are below mid income level.
What is the minimum level of income possible before poverty becomes life threatening?
Absolute poverty is the minimum level of income possible before poverty becomes life threatening.
