1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
patriot [66]
3 years ago
5

Us federal income tax is progressive by law, but which best explains why is it sometimes regressive in practice?

Business
2 answers:
Solnce55 [7]3 years ago
3 0
I believe the answer is: High-income earners use tax laws to their advantage to reduce their tax rates

High income earners tend to possess financial knowledge or ability to allow experts who understand the full scope of taxation laws and how to recorded the transactions in a way that make it eligible for tax deduction. This makes a lot of high income earners manage to avoid paying taxes even if they manage to obtain a lot of profit.
NikAS [45]3 years ago
3 0
"High-income earners use tax laws to their advantage to reduce their tax rates" is what best explains why the US federal income tax is progressive by law, but it is s<span>ometimes regressive in practice. I hope that this is the answer that you were looking for and the answer has actually come to your great help.</span>
You might be interested in
A broker-dealer offers 4 summer passes to an amusement park to each of its agents who sell at least $10,000 of bonds during the
inn [45]

Answer:

I (allowed) and IV (not considered soft dollar compensation)

Explanation:

Soft dollar compensation refers to payments made to brokerage firms or agents as commission revenue. They differ from hard dollar compensation because hard dollars are payments that were agreed upon before an investor started working with the broker, while soft dollars are based upon variable commissions.

4 0
3 years ago
On September 11, 2016, Home Store sells a mower for $590 with a one-year warranty that covers parts. Warranty expense is estimat
Ad libitum [116K]

Answer:

Sep 11

Dr Cash 590.00

Cr Sales 590.00

Dec 31

Dr Warranty expense 59.00

Cr Estimated warranty liability 59.00

July 24

Dr Estimated warranty liability 41.00

Cr Repair parts inventory 41.00

Explanation:

Home Store Journal entry

Sep 11

Dr Cash 590.00

Cr Sales 590.00

Dec 31

Dr Warranty expense (590*10%) 59.00

Cr Estimated warranty liability 59.00

July 24

Dr Estimated warranty liability 41.00

Cr Repair parts inventory 41.00

4 0
3 years ago
Read 2 more answers
The following account balances were taken from the adjusted trial balance of Kendall Company: Revenues $ 22,400 Operating Expens
dsp73

Answer:

Retained earnings-Closing = $19,900

Explanation:

Given that,

Revenues = $22,400

Operating Expenses = $15,000

Dividends = $4,500

Retained Earnings(opening) = $17,000

Net Income = Revenues - Operating expenses

                    = $ 22,400 - $15,000

                    = $7,400

Statement of Retained Earnings:

Retained earnings-Closing:

= Retained earnings -opening + Net Income - Dividends

=  $17,000 + $7,400 - $4,500

= $19,900

7 0
3 years ago
You have just deposited $14,000 into an account that promises to pay you an annual interest rate of 7.1 percent each year for th
aleksandrvk [35]

Answer:

Explanation:

No se

8 0
3 years ago
How would you feel if someone you love and care about was thinking about joining the army. I am thinking about doing it and I am
adell [148]
I would say if thats what you want to do go for it because the people that love you should want nothing more than for you to be happy.
8 0
2 years ago
Read 2 more answers
Other questions:
  • Week 8 Quiz - Taxes and W-2s (36pts)
    9·2 answers
  • Manufacturing overhead costs incurred for the month​ are: Utilities $ 39 comma 000 Depreciation on equipment $ 24 comma 000 Repa
    11·1 answer
  • A company is considering purchasing a machine for $21,000. The machine will generate income from operations of $2,000; annual ne
    14·1 answer
  • John buys a toy plane from a toy store. The money he pays the store blank the economy through blank and the taxes paid by the st
    6·2 answers
  • The client at the HIV clinic has come in complaining of unintended weight loss with diarrhea lasting over the last month. How is
    7·1 answer
  • Using the substitution theorem and the important equivalences (handout) show the following equivalence. Use only one substitutio
    11·1 answer
  • Who would most likely be your target audience if you created a slide presentation that had a yellow background and purple text?
    11·2 answers
  • The money multiplier declined significantly during the period​ 1930-1933 and also during the recent financial crisis of​ 2008-20
    13·1 answer
  • Crawl Inc., has 1,000 shares of 6%, $50 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock out
    13·1 answer
  • the product life cycle (plc) defines the life of a product in four basic stages, which include .
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!