Consumption tax

State and local tax incentives and tax breaks have become a widely used and acceptable economic development tool to attract new businesses to an area. There is much debate whether this is an effective method to stimulate economic growth, or just another loophole corporation’s use to increase their bottom line and avoid paying taxes on their earned revenue. Proponents of tax breaks and incentives argue that it is an effective use of tax payer money to create new jobs and promote growth to an…

Inheritance money is when someone passes away and leaves you a lump sum of money. I feel I deserve the inheritance money because it would be in the best hands. I would spend it conservatively, make a better future for myself, and give back to my community and family. There are a millions ways to spend money on things but I would choose to invest it in better way. I would spend it conservatively for the stuff I want. I wouldn’t buy the most expensive looking things. I also wouldn’t spend the…

inner- city communities by getting kids off the streets and into the arts. Funding must come from public and private sectors. The NEA can make such a difference in a child’s life as well as a community and the little bit extra we might have to pay in tax dollars is certainly worth the difference. Since it was established by Congress in 1965, the NEA has awarded more than $5 billion toward many different art forms and they are confident that as they continue to invest in the arts, they are…

funding the facility’s needs. Barstow Fire Protection District needs more money so that they can repay the debt, buy more equipment, and reduce the response time. As a solution to this issue, they proposed Measure J, which will increase the current tax by a half of a cent. This money will not be used for increase in salaries of the workers or to help out other cities. It will be used only for Barstow and the fire department’s necessities. I would like to enlighten my audience about this problem…

The Stamp Act, created by England’s parliament, was an act that taxed colonies on newspapers, pamphlets, licenses, and other paper products. The stamp was created to bear revenue stamps but the stamp created anger among many of the colonists. Colonists were justified in their refusal to accept the Stamp Act because the government taxed colonists without the correct representation. The Stamp Act was highly disliked because the English parliament taxed the colonies without the correct…

greater tax advantages, etc. Some of the drawbacks of the trust approach, however, include the time and planning associated with establishing and managing the trust, the required funding and hassle associated with the transferring of ones assets to the trust, as well as creating the potential for unforeseen or unintended tax or legal outcomes associated with complex trust and estate planning. Not to mention, many planners and tax professionals argue that, in many cases, the majority of tax…

The modern tax code that we use in America today is influenced and shaped by some moral behaviors and decisions that were created by our founding fathers in the from the U.S. Constitution. Even though the U.S. tax code is influenced by some moral behaviors, the tax code does not govern based on biblical worldviews because of the separation of church and state. However, since the tax code is certainly influenced by some moral behaviors, there are some connections linked to the tax code that…

and Universities, n.d.) (Transition: Without a doubt, student loan debt is a rising danger to the U.S. economy. Now let’s take a look as to how some countries benefit from having free tuition). Second Main Point: Although free tuition comes at the tax payer’s expense, countries have recent graduates contributing back to the economy at a faster pace than the U.S. Subpoint: Countries like Germany, Finland and Sweden offer free tuition. Yet, their Gross Domestic Product (GDP) income doesn’t…

Benefits. The income tax on the Social Security benefits was $51 billion in that year (Shakin and Seibert, 2015). Almost one third of U.S. retirees depend exclusively upon Social Security benefits for their retirement income (Hopkins, 2014). It is the matter of fact that despite its significance and positive history of providing retirement income to the elderly, Social Security has its own issues and cannot continue down the same path for much longer. However, the proposed tax policy (Team A’s),…

The current Tax code in the United States is quite complex that even some experts cannot figure it out. Both taxpayers and policymakers share a routine frustration of the tax systems vintage rules, along with its never ending loopholes which seem to contradict fairness and logic. Americans are sick with the current system, and many are looking for answers to this growing problem. Americans want this overly complicated system to be not only simplified, but also standardized in the way taxes are…