Tax incidence

Diana Oviedo Smith, Block 1 AP Lang & Comp 25 August 2015 Art Buchwald 1. Art Buchwald, in the column, “Unreasonable Conditions for Christmas”, argues that Christmas has come to be the support of a thriving economy, based on the expectation of consumers of all classes spending their money out of guilt. Buchwald supports his argument by explaining that no matter what class (upper, middle, or lower) it is a well known fact that during the Christmas season one must ‘spend their share” (1),…

In China, the Tang Dynasty was deciding on what tax system they should use. They had two options: the once a year tax or the twice a year tax. The once a year tax would be collected once a year. The twice a year tax would be collected twice a year. Lu Zhi wrote a memorial against the twice a year tax and Lu Zhi had a good point. The taxes in China went towards anything the government needed fixed or replaced. China’s government depended on the people paying the taxes to get out of debt…

Relevant Facts Armando Perez a citizen of Colombia who has owned three Real Estate Properties in the US titled to his name. Colombia does not have a tax treaty with the US. Properties A, B, and C were purchased on January 1, 2014 and their adjusted bases and fair market value are $97,800/150,000, $86,223/135,000 and $52,077/155,000 respectively. There is no depreciation recapture on any of the properties and they are currently rented and no significant improvements have been made to the…

Sin Taxes and Their Impact on Health Care Merriam-Webster defines a sin tax as “a tax on substances or activities considered sinful or harmful (as tobacco, alcohol, or gambling)” (np). Sin taxes are “a form of excise tax. That is a tax levied on some but not on all commodities” (Sadowsky 1). Simply put, Sin taxes are used to control the supply and demand of certain products. By increasing the cost of items it deems harmful, the government can decrease that item’s desirability. Decreasing…

would have to pay penalties in a form of higher taxes. Subsidies was another method of controlling the uninsured rate, by subsidizing citizens who can not afford health insurance. The money for these subsidies is paid for by higher income citizens with tax increase. Small employers who do not have many employees would still have to provide health insurance plans either from private or government…

US, the gap between rich and poor has been rapidly increasing, and economic inequality has reached extreme levels .In the recent presidential election campaigns, Hillary Clinton, for example, wants to increase the taxes for Americans in the highest tax bracket in order to reduce the gap between rich and poor. The World Development Report of 2006, published by the World Bank, states that seven out of ten people live in countries where the gap between rich and poor is greater than it was 30 years…

When you think about a penny what do you see? What do you think? How do you feel about a penny? Oh yes, the good old penny. An old brown, round piece copper that you always see on the ground but never seem to pick it up? Or a fortunate round piece of copper that you can use when you want a piece of candy from the corner store. Well, some people say that pennies are good luck. Do you believe it ? Did you know that the average penny lasts 25 years? The penny has been around for about 154 years.…

pocketed $275 million earlier this month from NBC Sports, Time Warner's Turner Sports and other investors; including Google and Comcast” (Harwell 2015). This shows that investors have a strong interest in online gambling. States could enforce sales tax on every online gambling transaction. This would increase funds for states and make a much stronger economy. If investors and advertisers were able to help to fund and promote state lotteries, more people would play and the jackpots for lottery…

Rough Draft- Super-PACs: How the Riches’ Votes Matter More than Everyone Else’s America prides itself in having equality of opinion, however some opinions are valued more than others. This irony is due to the presence of super-PACs in recent American elections. These super-PACs are organizations that allow the wealthy to have a louder voice over the many by flooding the airwaves with propaganda and by donating to politicians to buy favors from them. The presence of Super-PACs in the 2016…

In Paul Krugman's essay "Confronting Inequality," published in his 2007 book "The Conscience of a Liberal.," I personally believe this article could have the potential for a wide audience. Inequality is something a majority of Americans deal with whether they realize it or not. Krugman discusses the many ways America had fallen into distinct gaps of inequality. He presents a highly logical argument in which he reveals why, and how, America has gotten to different points of inequality whether it…