Consumption tax

14.2 Discussions Question #1 When the market fails to allocate resources efficiently interventionist usually allege the justification for government intervention. The two major economic intervention styles include market failure which gain Market power through the establishment of monopolies in addition to limiting the benefits from competitive markets. Asymmetric is another type of market failure which involves the provision of certain types of public goods such as National Defense this…

ECONOMIC GROWTH AND TAX RELIEF RECONCILIATION ACT OF 2001 The Economic Growth and Tax Relief Reconciliation Act of 2001 was the first major tax cut legislation signed into law by President George W. Bush. The tax cuts were to be temporary, lasting 9 years before expiring in December 2010.11 The Tax Act of 2001 affects all taxpayers for the rest of the decade. However, since it contains a sunset provision, Congress must affirm the law or the changes will end after December 31, 2010. The major…

is required but not used. 10% if deposits are paid directly to the IRS, paid with the return, or paid to an unauthorized financial institution. 15% for amounts unpaid more than 10 days after the date of the first notice the IRS sent asking for the tax due." (Cruz, A., Deschamps, M., Niswander, F., Prendergast, D., Schisler, D., & Trone, J., 2015) LO 10-3 13. If a…

Workers compensation insurance is an insurance policy carried by businesses that covers the medical costs and a portion of lost wages for an employee who is injured on the job. Workers compensation insurance covers workers injured on the job, whether they're hurt on the workplace premises or elsewhere, or in auto accidents while on business. Workers compensation insurance must be bought as a separate policy. In some states small businesses with fewer than three to five employees may not be…

Canadian provinces have jurisdiction in a number of areas, including employment. Employment regulations are a shared federal and provincial responsibility. The majority of workers—up to 90 percent of them—are covered by provincial, rather than federal, law. As a result, payroll regulations and employment standards vary as you move across the country. Perhaps the most unique province is Quebec. Of course, the gulf between Quebec and the rest of Canada can mean confusion when it comes to payroll…

The Congress passed the Sixteenth Amendment to impose a Federal income tax. Income tax gives the opportunity for the federal government to build bridges and roads, army, and also enforce laws and carry out other essential duties. The reason for the Sixteenth Amendment because after the Civil War, the industrial and financial markets increased of the eastern United States. Although the farmers of the west and south suffered from low prices for their farm products, due to the fact they were…

The intended message of my cartoon is that trickle down economy is not guaranteed to work. The GOP can not force the rich to spend more by giving them tax breaks, so there is no guarantee that it is going to trickle down to the people with less money. I used the example of a teacher and students to portray the message of my cartoon. Teachers always tell young children that “sharing is caring”, but a lot of the time the children do not end up sharing the toy. I titled my political cartoon…

wants the deny low-income African American and Latino family the education that they kids deserve them self. Something else, that Trump is to work with Congress to find a way to reduce the cost of college and student debt in place of federal tax breaks and tax dollars. While, Hillary wants to make all community colleges, tuition free, which isn’t possible if you ask me because how else will the people who are running the college get money. Though that is just a few ideas from Trump and Hillary…

Social Security has long been a subject of reform, with many finding the pay-as-you-go, or PAYGO, system inefficient, becoming more problematic by the Baby Boomers reaching retirement age, putting more strain on the system. On option for reform is the Cato Institute, which plans to split split the Social Security payments in half. Just like many reform propositions, has detractors, this, for example, this is a frightening proposition for those already receiving benefits, since there would be…

Wow the stamp act happened 250 years ago .The stamp act was passed by the British Parliament on March 22, 1765. The stamp act was where they put taxes on every single thing that you could buy.They were even putting taxes on newspaper. Anything that was paper or anything that you could eat was or would be taxed for more money for the king. The colonist were getting really mad because it was taking money out of your pocket. Since everything cost so much people could not afford to feed their…