All categories

2 years ago

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!

You might be interested in

In the past, I've mostly reported to easy-going managers with flexible work styles.

Sonbull [250]

<span>Work places with flexible working styles make the working conditions feel more at ease and can bring the best out of the workers. When those workers change positions and have to face new working conditions it can be very difficult to adjust. In the case of the context of the question, the interviewee was most likely telling the a human resource personnel about the working conditions of his or her previous place of work.</span>

5 0

3 years ago

A customer tells you that they “must have” a particular item that you are out of in your store. You can tell that the customer i

saul85 [17]

Tell them to wait patiently, and give them a
drink

7 0

3 years ago

Read 2 more answers

You purchased 1,000 shares of stock in Natural Chicken Wings, Inc., at a price of $43.37 per share. Since you purchased the stoc

leonid [27]

Answer:

9.68%

Explanation:

Percent Return on Investment is calculated as Net Profit / Cost of Investment x 100

Net Profit= $46,620 (1,000 x $46.62 per share) + $950 (1,000 x $.95 per share) - $43,370 (1,000 x $43.37 per share) = $4,200

Cost of Investment= $43,370 (1,000 x $43.37 per share)

Percent Return on Investment= $4,200 / $43,370 x 100 = 9.68%

4 0

2 years ago

Identify the accounting assumption or principle that is described below. (a) Belief that a company will remain in operation for

Leviafan [203]

Answer:

(a) Belief that a company will remain in operation for the foreseeable future.

Accounting assumption or principle: Going concern assumption

(b) Indicates that personal and business record-keeping should be separately maintained.

Accounting assumption or principle: Economic entity assumption

Accounting assumption or principle: Monetary unit assumption

(d) Separates financial information into time periods for reporting purposes.

Accounting assumption or principle: Periodicity assumption

(e) Measurement basis used when a reliable estimate of fair value is not available.

Accounting assumption or principle: Historical cost principle

(f) Dictates that companies should report all circumstances and events that make a difference to financial statement users.

Accounting assumption or principle: Full disclosure principle

4 0

3 years ago

a rational decisionmaker takes an action if and only if the marginal cost exceeds the marginal benefit.

Mariulka [41]

The only time a rational decision maker will choose an action is when the marginal utility of the activity is greater than the marginal cost of the action. Option A

This is further explained below.

<h3>A rational decisionmaker takes an action if and only if:?</h3>

The marginal cost is a term that refers to the change in the total cost that takes place as a direct consequence of an increase in the quantity of a product or service that is produced.

In the field of economics, this phrase refers to the amount of money that must be spent in order to produce one more unit of output.

In conclusion, if the marginal benefit of the action is greater than the marginal cost of the action, then the action will be conducted by a rational actor if there is a positive expectation that the action will have a net positive outcome. Alternative A