Consumption tax

quick fix, and morally right thing to do, is to increase the taxes on the top 10%. This will effectively take back the wealth of the people so that it could be redistributed through different methods. A few and believably most effective would be tax credits for lower and middle class or spending the money…

an increased amount of time to recognize a decline in the economy. To counteract this, Automatic stabilizers are used. This is when a policy goes into effect without any intervention by the government and most of the time it’s in the form of income tax adjustment or unemployment compensation. The idea in the latter of the two is that the Government spending (welfare in this case) will make its way back into the economy as the recipients will spend the money. In the case of immigrants, this…

Inequality The world around us is comprised of unequal social factors in all ages and periods, and inequality is preeminently shown in economics. In the past, inequality was mainly reflected by gender discrimination and racial discrimination. In the present, inequality is revealed by class-ism, a prejudice on the basis of social class. All these discriminations and inequalities were actually created by profits. Besides, inequality will not be disappeared shortly. In the past, white Americans…

One can never tell what he truly wants unless faced with many opportunities and has tried them hard enough. That’s definitely true, from what I have been through. Different from most other students, I didn’t start my accounting study until the second undergraduate year. And that’s exactly the time when I know that I finally find the thing I would devote to. Needless to say, that was quite a phenomenal change both academical and psychological, since the major I used to take was Chinese…

subsidize someone 's drug habit." (House) State representative Liebmann and other taxpayers throughout the United States believe, tax payers shouldn’t work hard for their money just so it could be used to support someone who doesn’t even work habit of addiction. Drug testing those with an addiction and narrowing down who gets to receive welfare benefits will make tax payers feel a little better about paying taxes because they know their money is being use for something good. Another benefit of…

receiving spouse can roll the money into a traditional or Roth IRA, the transaction will be taxed as a conversion but not penalized, or their own qualified plan. If a transfer from a qualified plan is not recognized as a QDRO by the IRS it is subject to tax and penalty. Make sure you add and update your beneficiaries in case your ex-spouse was one. Not only should you change your retirement plan, but all your financial assets, including annuities and life insurance. If you are getting remarried,…

The rule of Texas Public Accountancy Administration (TPAA) prohibits Certified Public Accountants (CPA) in Texas from advertising their tax services to the person whose name is on the IRS’s potential audit list within 30 days following the date of publication. This case raises a question whether the TPAA’s policy of banning CPA’s solicitation to potential customers violates the right of free speech under the First Amendment. We hold the opinion that the policy is unconstitutional in serving the…

people together into one equal class where everyone is equivalent to each other, no matter what (10 Biggest Pros and Cons of Socialism, n.d.). One way of doing this is by the government taxing the rich more percent than the poor are taxed. These extra tax percentages go towards welfare and giving less wealthy people an advantage. Another aspect of socialism is that since the government runs all the business, monopolies and monopsonies are abolished and the prices of products are regulated by the…

Our goal today is to persuade everyone to call, write, and email or visit their Senator or Representative and let their voice be heard about spending our tax dollar money outside of the U.S. and wastefully inside the U.S. when there are people and items here that need attention first. The U.S. spends billions oversees to help other nations, with food, medical supplies, military equipment, and just plain money, why? We understand humanitarian efforts and help thy neighbor, however not sure why we…

government revenue as taxes were cut tremendously. From the end of 2007 to 2009, real tax receipts had fallen by over 15 percent and in the third quarter of 2009, tax receipts only financed 62 percent, the lowest shares since World War II. In 2012, the U.S. government raised 24 percent of the GDP in tax revenue, a percentage lower than many countries, including Japan, Canada, France, and Sweden. So what source of tax revenue has raised the most amount of money? Historically, personal income…