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MArishka [77]
1 year ago
7

Which recent president raised taxes when the income tax share of gdp was very low?

Business
1 answer:
alexira [117]1 year ago
7 0

George H.W. Bush firmly said, "Read my lips: no new taxes."

He would continue to be troubled by the words. The top tax rate was increased from 28% under Ronald Reagan to 31% by the Omnibus Budget Reconciliation Act of 1990.

What is Tax??

In order to ensure that taxpayers are paying the proper amount of tax at the proper time and obtaining the proper tax allowances and tax reliefs, tax compliance refers to both policy actions and individual behaviour. A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer (A person or legal entity) is used by a government organisation to pay for government expenses and other public expenditures (regional, local, or national). Around 3000–2800 BC, the first recorded taxation was enacted in ancient Egypt. Non-compliance with the law includes failing to pay on time as well as evading or resisting taxation. Taxes can be paid in cash or in the labour equivalent and can be either direct or indirect.

To learn more about Tax

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Suppose you own a small business and have been thinking about expanding production, including hiring more workers. Until recentl
disa [49]

Answer: Economic Growth, Employment opportunities, Standard of living improvement.

Explanation:

Macroeconomics is a branch of economics that deals with the structure, performance, behavior, and the decision-making of the economy as a whole. It includes the regional, national, and the global economies.

Expanding production will help the economy in the following ways:

1. Provision of employment opportunities: An increase in production will lead to more goods and services being offered. This will in turn, lead to more workers who would be needed for production.

2. Increase in standard of living: There will be an increase in the standard of living for people that were not employed before and now gainfully employed due to the expansion.

3. Economic growth: Economic growth is the increase in the goods and services in the economy. Increase in production will enhance economic growth.

6 0
3 years ago
Companies must follow generally accepted accounting principles (gaap) for ______ accounting reports.
Snowcat [4.5K]

Companies must follow generally accepted accounting principles (gaap) for  international financial reporting standards accounting reports

<h3><u>What are international financial reporting standards ?</u></h3>
  • The International Financial Reporting Standards (IFRS) are a group of accounting guidelines that specify which kinds of transactions and events must be disclosed in financial statements.
  • The International Accounting Standards Board created and maintains them (IASB).
  • The IASB wants the rules to be implemented consistently across the world so that investors and other users of financial statements may compare the financial performance of publicly traded firms with that of their worldwide peers on an equal footing.
  • More than 100 nations, including the European Union and more than two-thirds of the G20, currently utilize IFRS.
  • International Accounting Standards (IAS), which were more traditional standards that IFRS superseded in 2000, are occasionally mistaken with IFRS.

To view more about GAAP refer to:

brainly.com/question/14957399

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8 0
2 years ago
Which of the following is NOT an advantage of​ e-tailing over traditional​ brick-and-mortar retailing? A. The ability to offer a
Julli [10]

Answer:

D). Customers find it more comfortable to shop and easier to return unwanted items.

Explanation:

Electronic retailing or e-tailing offers the sale and purchase of goods and services online/internet while traditional mortar retailing proposed the goods and services to the customers through a street-side market and face-to-face medium. There are numerous advantages of the upheaval of online retailing like it offers convenient, and quick access to the stores at any time from any place of the world having internet. It saves the traveling time of the consumers and also reduces the infrastructural costs and develops competitiveness. Thus, as per the question, the option that does not display an advantage of e-tailing is option D as a return in brick-and-mortar was more convenient than e-tailing.

6 0
3 years ago
When calculating the afterminustax weighted average cost of capital​ (WACC), which of the following costs is adjusted for taxes
sergey [27]

Answer:

The before-tax cost of debt is adjusted for tax in the computation of weighted average cost of capital.

The correct answer is  D

Explanation:

In the calculation of weighted average cost of capital, the before tax cost of debt is adjusted for tax so as to obtain the after-tax cost of debt. Cost of equity and cost of preferred stocks will not be adjusted for tax.

6 0
3 years ago
According to the PMQ Pizza Magazine, an estimate of pizza sales in the United States for the top 100 pizza companies was $44.3 b
shusha [124]

Answer:

PMQ Pizza Magazine

Estimate of Pizza Sales in the United States for top 100 pizza companies

a. Computation of the sales per franchise unit:

Name of company              Units          Sales      Sales per Franchise unit

Domino's                           14,490       12,252           $0.845

Pizza Hut                           16,336       12,034              0.737

Little Caesars Pizza            5365        4,000              0.746

Papa John's International   5071        3,695              0.729

California Pizza Kitchen       260           840              3.231

b. Frequency distribution based on total sales:

Frequency               Sales ($ millions)

O up to 1750                      840

1750 up to 3500                    0

3500 up to 5250           7,695

5250 up to 7000                  0

7000 up to 8750                  0

8750 up to 10500                0

10500 up to 12250     12,034

12250 up to 14000     12,252

Total sales                 32,821

c. Frequency distribution of companies based on per unit sales:

Frequency Per unit sales ($ millions)

0.0 up to 0.5               0

0.5 up to 1                    4

1 up to 1.5                     0

1.5 up to 2                     0

2 up to 2.5                   0

2.5 up to 3                    0

3 up to 3.5                    1

3.5 up to 4                   0

Total                          5

Explanation:

a) Data and Calculations:

Total estimated sales in 2018 = $44.3 billion

Top 5 Companies Total gross sales in $ millions.

Name of company              Units          Sales      Sales per Franchise unit

Domino's                           14,490       12,252           $0.845 (12,252/14,590)

Pizza Hut                           16,336       12,034              0.737 (12,034/16,336)

Little Caesars Pizza           5,365        4,000              0.746 (4,000/5,365)

Papa John's International  5,071        3,695              0.729 (3,695/5,071)

California Pizza Kitchen       260           840              3.231 (840/260)

b. Frequency distribution based on total sales:

Frequency               Sales ($ millions)

O up to 1750                      840

1750 up to 3500                    0

3500 up to 5250           7,695

5250 up to 7000                  0

7000 up to 8750                  0

8750 up to 10500                0

10500 up to 12250     12,034

12250 up to 14000     12,252

Total sales                 32,821

c. Frequency distribution of companies based on per unit sales:

Frequency Per unit sales ($ millions)

0.0 up to 0.5               0

0.5 up to 1                    4

1 up to 1.5                     0

1.5 up to 2                     0

2 up to 2.5                   0

2.5 up to 3                    0

3 up to 3.5                    1

3.5 up to 4                   0

Total                          5

7 0
3 years ago
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