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The effect on the individual taxpayer AND other TAXPAYERS that HAVE ENOUGH gross worldwide income that they would be subject to the increase in any of the different TAXES that will add to the cost of things that are necessary to get by on INCLUDING INCOME TAXES the INCREASES WILL REDUCE the amount of funds that they will have available to them to use or spend for some of the things that are needed for them to get by on and necessary to have in today's world. And will increase the need for more assistance for some with necessary living expense for them and their family members.
What else can I help you with?
Because tax cuts will likely affect both aggregate demand and aggregate supply does it matter which is affected more?
Because a tax increase will cause consumption to decrease, an aggregate demand has a greater effect.
A state government wants to increase the taxes on cigarettes to increase tax revenue This tax would only be effective in raising new tax revenues if the price elasticity of demand is?
elastic
How will the recent property tax increase impact the rent increase for tenants?
The recent property tax increase may lead landlords to raise rent for tenants in order to cover the higher costs.
If a price increase has little or no effect the demand for the product is?
When a price increase has little or no effect on the demand for a product, it is inelastic.
What is the output effect and the price effect for an oligopoly?
Since P>MC for an oligopoly, the output effect is that selling one more unit at the sales price will increase profit.The price effect is that an increase in production will increase the total amount sold, which will decrease the price and decrease the profit on all other units sold.If the output effect is greater than the price effect, the owner will increase production.If the price effect is greater than the output effect, the owner will not increase production (and may even decrease production).Oligopolists will continue to increase or decrease production until these marginal effects balance.
How does an increase in income tax rate effect the breakeven point?
No, an increase in the tax rate only affects a positive income; at break even there is no amount to tax
Who does the sales tax increase effect the most?
0.1 percenters
This social science might study the effect of a tax increase on families?
The social science that might study the effect of a tax increase on families is economics. Economists would analyze how a tax increase impacts people's income, consumption patterns, and overall economic behavior. They might also explore the redistributive effects of the tax increase and its potential implications for income inequality.
Which social science might study the effect of a tax increase on families?
All
increase tax witholding ?
increase tax payment
Why the government spending multiplier is different form the tax multiplier?
The government spending multiplier is different form the tax multiplier from the top of my head is because the government spending total effect ripples off. That is if government spending increase then the total income increases. When total income increase, consumption increases, when consumption increases total income increases further (as consumption is a factor of total income), and this pattern is carried forward. This is the the multiplier effect, such that an increase in government spending's final impact on income is much bigger than its initial increase. The tax multiplier on the other hand, has a much smaller effect than government spending. This is because tax is only a portion of the consumer income. That is, if there is a tax cut, consumers only save a fractional amount (specifically 1-MPC) of a tax cut. As a result of the smaller boost in spending form ma tax cut, the ripples/multiplier effect of a tax cut is much less than an increase in government spending.
What is the effect of the number of allowances on tax withholding?
With an increasing number of allowances, the taxes withheld each paycheck will be reduced, which will reduce any tax refund and/or increase the amount owed to the IRS. Conversely, decreasing the number of allowances will increase any tax refund or reduce the amount owed at the end of the tax year.
How will unemployment effect your tax refund?
Unemployment can affect your tax refund in a couple of ways. If you received unemployment benefits during the year, those benefits are generally taxable income, which could increase your overall tax liability and potentially reduce your refund. Additionally, if you had less income throughout the year, you might qualify for certain tax credits, like the Earned Income Tax Credit, which could increase your refund. Ultimately, the net effect depends on your total income and tax situation for the year.
What social science might study the effect of a tax increase on families.?
Economics would be the social science that studies the effect of a tax increase on families. Economists analyze how changes in taxes impact individuals and households in terms of their spending, saving, and overall financial well-being. They often use economic models and empirical data to understand the potential consequences of tax policies on different population groups.
What tax as income increase the amount of income tax also increase?
progressive
With this tax as income increase the amount of income tax also increase?
progressive
Does an increase in the income tax rate increase the break even point?
No, an increase in the tax rate only affects a positive income; at break even there is no amount to tax
