Savings are for saving not spending
In a situation wherein Country Y has a progressive tax system for income, with no credits or deductions, a CEO earning $2.5 million per year would pay the most as a percentage of income in the country Y. Therefore, the option D holds true.
<h3>What is the significance of a progressive tax system?</h3>
A progressive tax system can be referred to or considered as a system wherein the percentage of tax to be levied increases with an increase in the total taxable income for an individual. The rates of taxation under this system are defined under percentage.
In the situation given above, when a CEO in country Y earns $2.5 million, i.e., more than any other person mentioned above, he will be the one who will have to pay the most taxes as a part of percentage of his income.
Therefore, the option D holds true and states regarding the significance of the progressive tax system.
Learn more about progressive tax system here:
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Answer:
B
Explanation:
Twain's account of Colonel Rall's speech ("full of gunpowder and glory") is contrasted most vividly to the Marion Ranger's collective remorse over the shooting of an unarmed rider.
This is a case of Food safety fraud by Penanut corporation of America and the culprits where sentenced to prison in Albany,Georgia
Explanation:
- In the above mentioned case the managers (c)who shipped the product knowing that it was contaminated where also punished .
- The managers where punished for their role in shipping the salmonella -positive peanut product,for falsifying the microbiological results.
- The evidence of the trial reflected that tainted food shipping led to a salmonella outbreak in 2009 with more than 700 reported cases of salmonella poisoning in 46 states.
Answer:
d. Debt holders get $0 mil. under the unlevered plan vs. 0.6075 mil. under the levered plan
Explanation:
interests paid to debt holders = $13,500,000 x 10% = $1,350,000
generally, interest revenue is taxed as ordinary revenue = corporate income tax rate (if debt holder is a business) or personal income tax (if debt holder is an individual).
under the first plan, debt holders get nothing because there is no outstanding debt since the company is an all equity firm.
under the second plan, if the personal tax rate on interest income is 55%, which is really high, the debt holders will earn $1,350,000 x (1 - 55%) = $607,500
