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algol13
3 years ago
14

A senator wants to raise tax revenue and make workers better off. A staff memberproposes raising the payroll tax paid by firms a

nd using part of the extra revenue toreduce the payroll tax paid by workers. Would this accomplish the senator’s goal?Explain.
Business
2 answers:
algol [13]3 years ago
8 0

Answer:

This proposal will not work.

Explanation:

All taxes work the same way, it doesn't matter if they are payroll taxes or taxes on goods or services. In this case, labor is the service provided by the employees (suppliers) and the employer is the consumer. A tax increase will reduce the demand for labor, and therefore the equilibrium price of labor (wage) will also decrease. If wages decreases, then workers are not going to be better off, on the contrary they will be worse off. This tax increase will lower both the wage and the employment level.

butalik [34]3 years ago
6 0

Answer: The proposal will not accomplish the senator's goal

Explanation: Taxes are financial obligations or levies charged on a tax payer by the government.

When the payroll tax paid by a firm is increase, it increases the tax revenue generated by the government but it affects the wages of the workers. The wages of the workers will reduce as such the workers will not be better off as proposed.

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During the months of January and February, Solitare Corporation sold goods to two customers. The sequence of events was as follo
Daniel [21]

Answer:

The total revenue Solitare would report over the two months is $99 with a gross loss of $11.74

Explanation:

Particulars                                                  Amount ($)

Sales (January & February)

- Wizard Inc                                                     $50

- Spyder Corp                                                 $50

Less: Discount allowed to Wizard Inc           <u>$1       </u>    ($50 * 2%)

Net Sales                                                         $99

Less: Cost of goods sold (60.6+50.14)          <u>$110.74</u>

Gross Loss                                                       <u>$11.74</u>

8 0
2 years ago
Khalid is a 39-year-old, married business owner who runs a dry cleaning service with three locations. His personal obligations a
madam [21]

Answer:

D. A limited liability company because he will only be liable for what he has invested in the business. His personal assets will be protected, and he can be taxed like a sole proprietorship.

3 0
3 years ago
Ricky is 35 years old. He plans to retire when he is 63. He has opened a retirement account that pays 3.2% interest compounded m
Anna11 [10]

Answer:

Amount received = 217,043.56 (Approx)

Explanation:

Given:

Monthly deposit = $400

Interest rate = 3.2% / 12 = 0.002667 per month

Number of year = 63 year - 35 year = 28 year

Number of period = 28 × 12 month = 336 month

Computation:

Amount \ received = PMT[\frac{(1+r)^n-1}{r} ]\\\\Amount \ received = 400[\frac{(1+0.002667)^{336}-1}{0.002667} ]\\\\Amount \ received =400[\frac{(1.002667)^{336}-1}{0.002667} ]\\\\Amount \ received =400[\frac{2.44713794-1}{0.002667} ]\\\\Amount \ received =400[\frac{1.44713794}{0.002667} ]\\\\Amount \ received =400[542.608901]\\\\Amount \ received =217,043.56\\\\

Amount received = 217,043.56 (Approx)

7 0
3 years ago
The company that relies on computer and telecommunications technologies instead of physical presence for communication between e
Lena [83]

Answer:

A remote company or Telecommuting company

Explanation:

Telecommuting (also known as working from home, or e-commuting) is a work arrangement in which the employee works outside the office, often working from home or a location close to home

7 0
3 years ago
The Josey Company uses the weighted average method. The beginning work in process consists of 6,000 units (100% completed as to
zvonat [6]

Answer:

Total equivalent units= 135,000 units

Explanation:

<u>The weighted average method blends the costs and units of the previous period with the costs and units of the current period.</u>

<u></u>

Conversion costs:

Units completed and transferred out= 133,000 units

Ending WIP= 10,000*0.2= 2,000 units

Total equivalent units= 135,000 units

3 0
3 years ago
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