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What else can I help you with?
Should the government increase taxes rates on everyone as a way to equalize incomes and wealth?
no
What are the Essentials elements of taxes?
The essential element of a tax is a contribution to the state revenue levied by the government. Taxes are used to support government ran programs, government buildings, and to pay incomes of government workers.
What are the 3 ways to classify taxes?
Taxes can be classified in three main ways: by their nature, by their impact, and by their administration. By nature, taxes can be direct (levied on income or wealth) or indirect (levied on goods and services). By impact, they can be progressive (higher rates for higher incomes), regressive (lower rates for higher incomes), or proportional (same rate regardless of income). Finally, by administration, taxes can be classified as federal, state, or local, depending on the level of government that imposes them.
What is withhold tax who deducts it?
Employee income tax (such as PAYE) and other government imposed deductions from dividends, salaries, wages, and other incomes. Withholding taxes are levied at the point of disbursement of incomes, and are passed on to the government by the entities collecting them.
Where does most of the government's money go to?
meet the needs of citizens for important services , the taxes that pay for government , parts of most citizens incomes , in addition.
What role does government play in the circular flow of income?
Governments take part of household incomes in the form of taxes, but they also inject money back into households in the form of wages. Some of that money goes back to the government in the form of taxes
Why must we pay taxes to our local state and national?
Taxes are what pays for the services that we receive from the government, no matter which government level it is it still comes from taxes in one form or another.
Why are Americans taxed in proportion to their incomes?
The ability-to-pay principle of taxation states that people with higher incomes have a greater ability to pay taxes than people with lower incomes.
Why must we pay taxes to our local state and national governments?
Taxes are what pays for the services that we receive from the government, no matter which government level it is it still comes from taxes in one form or another.
Why must we pay taxes to our local-state and national governments?
Taxes are what pays for the services that we receive from the government, no matter which government level it is it still comes from taxes in one form or another.
What two levels of government do you pay income tax to?
The Federal government is the level of government we pay income taxes to.
What level of government relies the most on income taxes?
Federal Gvt
