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iVinArrow [24]
2 years ago
14

Lump-sum taxes are rarely used in the real world because:_______________

Business
1 answer:
labwork [276]2 years ago
4 0

Answer:

c. lump-sum taxes are often viewed as unfair because they take the same amount of money from both poor and rich.

Explanation:

To understand this question, you have to first understand what lump-sum taxes are.

Lump-sum taxes are a system of taxes where everybody pays the same amount of tax no matter their economic status, or their actions. Basically, lump-sum taxes take the same amount of money from the rich and the poor, hugely increasing the burden on the poor and lessening that of the rich.

As an example, a lump-sum tax of $100 would require everybody to pay $100. To a person earning, say $120, that would be a huge hit, and be a huge burden on his normal life. However, to a rich person who earns, say, $10000, that would be much more easier for the rich person.

Hence, lump-sum taxes are often viewed as unfair because of the unfair advantage the rich have over the poor in tax-paying.

Hope this helped!

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Imagine you inherited $50,000, and you want to invest it to meet two financial goals: (a) to save for your wedding you plan to h
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<u>Solution and Explanation:</u>

<u>Evaluation for investment decisions </u>

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