The case portrays the need for a review of income and property taxes, highlighting information on which taxes should or should not have their exemption limits extended and how this affects the country's infrastructure.
Accordingly, we can answer the other questions as follows:
- Economic research is against increasing the income tax exemption limit, as this would harm the poorest population.
- The research states that the property tax is important for the growth of the country's infrastructure, in addition to falling on objects that are easy to identify and that belong to the richest population.
<h3>How does the survey present this information?</h3>
The research shows that the income import should matter the exemption in the poorest population and this is a way to promote more taxpayers for this tax. This is because by allowing poor people to be exempt from income tax, the State promotes economic ascension, allowing these people to reach higher economic levels and leave the lower classes, becoming taxpayers.
However, the research is in favor of extending the exemption limits for property tax. This is because these taxes must fall on people who own buildings and residences. These people have a higher economic standard and are easily identified since the properties are immovable assets.
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Answer:
The first ten amendment to the United States constitution, which is a general listing of the rights of the people is known as the Bill of Rights.
Explanation:
When there were no general rights of the people listed in the constitution, there was an outcry by the people which prompted those additions. These rights defend the American citizens’ freedoms and grant them freedom of speech, religion, assemble and due process of law.
The Bill of Rights was conscripted in New York City by James Madison and were ratified in 1791.
Laws protect our general safety, and ensure our rights as citizens against abuses by other people, by organizations, and by the government itself. We have laws to help provide for our general safety.
4 Major Instruments used for Making International Payments are Foreign Bills of Exchange; Bank Drafts; Telegraphic Transfer; Letter of Credit.
<u>Explanation:
</u>
To make payments in the foreign countries the instruments used are Foreign Bills of Exchange, Bank Drafts and Telegraphic Transfers and Letter of Credit. Each of these instruments mentioned as different methodologies in sending the money to the foreign banks.
Let us explain one by one; Foreign Bills of Exchange money drawn from country is payable at another country. Bank draft which is drawn on bank funds and payment assurance is made by the bank that issues it.
Telegraphic Transfer is an electronic method of fund transfer used mainly for overseas wire transactions. And final one is Letter of Credit is a letter given by the bank assuring that a buyer's payment to a seller will be received on time and for the correct amount.
