Supply After Tax Price Supply $6.00 $5.45 $5.00 $4.45 Demand QUANTITY 0 Q' Q

Why are sales taxes considered regressive?

Question 44 Please refer to the description of a tax on a market, represented by the graphic .. The amount of deadweight loss as a result of the tax is represented by the area(s) Check all that apply. F C. E.

There are a variety of taxes that a person pays when buying an airline ticket. One tax is called the LUST fuel tax. LUST stands for leaking underground storage tank. The LUST tax is to establish a trust fund to provide money for oversight and corrective action against owners of leaking underground storage tanks and provides money for cleanup of LUST sites where the owner or operator is unknown. Is it efficient for customer’s of airlines to beforced to pay the tax?

2. Jesse is buying a new car. The base price is $27,940. Jesse has a down payment of $3500. Extra charges $850 $495 Delivery charge Freight Federal air conditioning tax a. What is the total vehicle price before taxes? $100 b. What is the total amount that Jesse will need to pay after taxes? Remember that new vehicles need to pay both PST (6%) and GST (5%). c. What is the total price of the car after taxes and less the down payment? (This is the amount of the loan Jesse needs) d. Jesse pays for his new car with a personal loan from his bank. His loan is 5% over 3 years. How much interest will Jesse pay? (Use an online loan calculator to help you.) e. What is the total cost of the car? (Remember to include the down payment in the cost) f. What are some things that Jesse could do to reduce amount he pays at the end of the loan?

Income: 115,000 State Tax Rate: 7 % Federal Income Tax: $0 to $29,000 10% Federal Payroll Tax Rate: 12% $29,001 to $58,300 15% $58,301 to $163,000 29% * Round all answers to 2 decimal places. Do not include any commas or percentage signs.* a) Compute the total tax paid b) What is the marginal tax rate? c) What is the average tax rate?

The government implements a negative income tax plan with a guaranteed minimum income of $5,000 and a phase-out rate for payments of 50%. Complete the following table by calculating the negative tax and total after-tax income for each family income given. (Note: Suppose that any income above $10,600 would pay a positive tax.) Family Income (Dollars) Negative Tax Total After-Tax Income (Dollars) (Dollars) 0 2,600 4,600 6,600 8,600 10,600

What is the benefit of having state and local taxes on income instead of collecting all such taxes at the federal level? What is the local tax in your county/city? Make sure to state the county/city and the tax rate. How does this compared to the tax rate of neighboring counties/cities? How do you feel about this? Does the location with the higher tax rate receive better amenities (schools, police, road conditions? Would you rather pay a higher tax for better service?

Government collects the largest percentage of its revenue in which of the following ways? A) excise tax B) payroll tax C) corporate income tax D) personal income tax

50 Price (P) S2 (after tax) S; (before tax) Tax i of $35 $30 $25 $20 E 90 100 Quantity (Q) The diagram above shows a market before and after an excise tax has been levied by the government. The diagram indicates the effective price (net of tax) that sellers receive after the tax is: Select one: а. $35 b. $20 c. $25 d. $30