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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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The derived demand for an input will rise when it is highly productive in ______. Multiple select question. increasing the costs
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Answer:

Tt is highly productive in reducing the costs to produce a product.

 it is highly productive in producing a highly valued commodity.

Explanation:

A product has derived demand If its demand is dependent on the demand for other products.

For example, there would be no need to demand for labour if no one demands for goods.

The derived demand for a good will increase if it reduces the price of the product and if it is important in the production of a good

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3 years ago
Indicate whether each of the following transactions represents an increase in net exports, a decrease in net exports, an increas
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Answer:

(a). A worker at a Sony plant in Japan buys some Georgia peaches from an American farmer.

-<u> Increase in exports while no change in imports</u>.

(b). The Sony pension fund buys a bond from the U.S. Treasury.

- <u>Decrease in a net outflow of capital. Thus, it would be considered as a negative inflow/outflow</u>.

(c). An American investor buys a controlling share in a South Korean electronics firm.

- <u>Increase in Net Capital outflow for the U.S</u>.

Explanation:

Exports are described as the selling of domestic goods to a foreign country while Imports are characterized as the process of bringing in foreign goods to the domestic country. And Capital outflow is defined as the exact flow of funds from domestic to foreign and foreign to the domestic country.

In the first case, the purchase reflects a rise in exports as the domestic product is sold to the foreign country. In the second situation, the net outflow of the capital would decreases as it demonstrates a foreign purchase of a domestic asset. In the third example, the American investors' purchase of a South Korean firm demonstrates a domestic purchase of a foreign asset and thus, the net capital outflow would rise.

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3 years ago
What is the first step in creating a cash flow statement?
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The first step is to calculate income. 
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Which of the following is a reason for advertisers to divert their funds from traditional media? a. Increased funds available fo
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Consumers’ desire to control their information environment is a reason for advertisers to divert their funds from traditional media.

C) Consumer's desire to control their information environment.

<u>Explanation:</u>

Earlier the information sources were limited and the audience didn't have many options to choose from. The elites and literates would opt for print media and the common audience would opt for radio and other medium of information.

The advertisement agencies would also target the audience based on the information source. Bit with the growing technological advancement, the consumer can now choose their own preferable source of information and hence the advertisers diverted their funds from the traditional media.

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3 years ago
One can determine the amount of any level of total income that is consumed by:_________.
katen-ka-za [31]

Answer:

a. multiplying total income by the APC.

Explanation:

The income model is also known as a revenue model and it is a spreedsheets formula used by individuals or organizations to identify the best income source to explore, what goods and services to offer, pricing of these goods and services, and who is the target audience (consumers).

Total income can be defined as the overall amount of money that is being earned by an individual or a household before any deductions such as tax.

One can determine the amount of any level of total income that is consumed by multiplying total income by the average propensity to consume (APC).

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