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MArishka [77]
2 years ago
7

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

Business
1 answer:
alexira [117]2 years 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

brainly.com/question/26316390

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As a manager at Johnson Electric, an armature motor manufacturer, Oliver is responsible for quality. As he carries out his contr
ryzh [129]

Answer:

Third step in control function is to take corrective action

Explanation:

Control function is one the important managerial functions where the manager compares actual performance with that of estimated by the management. In case of any deviation, the manager prepares the corrective course of action and communicates the same to the upper management.

The upper management keeps this feedback in mind while formulating goals and objectives in future. Here, Oliver compares actual performance based on number of defective parts set and takes corrective action if actual number of defective parts is more than estimated.

7 0
3 years ago
Assume that the Assembly Department allocates overhead based on machine hours, and the Finishing Department allocates overhead b
kap26 [50]

Answer:

$9.2 0

Explanation:

The calculation of the Finishing Department is shown below:-

Plant - wide overhead rate = Total overhead ÷ Total machine hour

= ($470,000 + $737,900) ÷ ($470,000 + 133,950)

Plant wide overhead rate = $2 per machine hour

Machine hour for product = 4.2 + 0.4

= $4.6 machine hour

Applied overhead = Machine hour for product × Plant wide overhead rate

= $4.6 × $2

= $9.2 0

6 0
3 years ago
Read the following paragraph and respond to the questions below.
-Dominant- [34]

Answer:

a. The number sentence that is the topic sentence is sentence (1).

b. Sentence (6) does not contribute to the paragraph's unity.  It can be eliminated, without changing the meaning that can be obtained from the paragraph.  It does not support the topic.

c. The writer, in sentences 3 through 7, provides an example and further details to help the reader to understand her point.

d. The example in a sentence makes the idea clearer to the reader.  Without the example, which provides further details, the reader may not clearly appreciate the topic under discussion.

Explanation:

The purpose of the topic sentence is to introduce the theme of the paragraph or the point of view of the writer.  It captures the essence of the story.  As it bears the central idea, it focuses the paragraph to achieve unity.

5 0
3 years ago
In a certain economy, the components of planned spending are given by:
viktelen [127]

Answer:

B) 790-700r

Explanation:

Aggregate Expenditure is the expenditure by all the sectors of economy. By Households = Consumption (C), By Firms = Investment (I), By government = Govt spending (G) & tax leakages (T), By Rest world = Next Exports (NX).

Autonomous Expenditure is the level of expenditure in economy, which doesn't depend on level of Income = Y.

AE = C + I + G + NX

[500 + 0.8 (Y-150) - 300r] + [200 - 400r] + 200 + 10

500 + 0.8Y - 120 - 300r + 200 - 400r + 210

500 - 120 + 200 + 210 - 300r - 400r + 0.8y  

790 - 700r + 0.8y

As, it can be seen that the part of AE = '790 - 700r', excluding '0.8y' : is not dependent on Income Y. So, it is Autonomous Expenditure

4 0
3 years ago
What are two features of a bond?
Rus_ich [418]

Bonds have a maturity date, are perpetual, and pay a coupon rate.

3 0
4 years ago
Read 2 more answers
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