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When demand is perfectly inelastic who bears the tax burden?
The consumer is the one that bears the tax burden in this case 100%.
Progressives favored a graduated income tax because?
the wealthy would carry the greatest tax burden. :]
When tax is imposed on motels or hotels and demand were slightly elastic and supply inelastic who would be stuck with the tax burden?
.com when tax is imposed on motels or hotels and demand were slightly elastic and supply inelastic,the tax burden would strike on the consumer who suffers what ever outcome.
Why is the burden of a tax to taxpayers greater than the revenue received by the government?
Because taxpayers suffer an administrative burden when complying with government taxes. The burden to taxpayers is more than just monetary payments to the government. That burden is the process of figuring out the tax code, the proper way to complete taxes, and possibly paying an accountant. This administrative burden makes the burden to taxpayers greater than the revenue received by the government.
Is the sin tax burden on tobacco products shared equally between producers and consumers?
Economics 101 - it is borne entirely by the consumer. Even if the state were to levy it upon the producer, the consumer will pay it in marked up prices. If the product is a dollar and the tax a dollar, the producer needs to collect for both...
Who bears the burden of a tax?
The burden is that of the person or people who have to pay the tax.
When demand is perfectly inelastic who bears the tax burden?
The consumer is the one that bears the tax burden in this case 100%.
Who does the Tax incidence refer to?
Who actually bears the burden of the tax
Is the tax burden of sin taxes on tobacco products shared equally between consumers and -producers?
no,buyers pay more
What are the disadvantages of sin tax law?
Some potential disadvantages of sin tax laws include: Disproportionate impact on low-income individuals: Sin taxes can place a greater burden on individuals with lower incomes, as they may spend a larger proportion of their income on sin products. Potential for black market activity: High sin taxes can create an incentive for the development of black market activity, where individuals seek to avoid paying the taxes by purchasing illegal or untaxed products. Negative economic impact on industries: Sin tax laws can adversely affect industries that produce sin products, potentially leading to job losses and economic decline in those sectors.
Which state has the heaviest tax burden?
The state with the heaviest tax burden is New York, by .5% compared to California.
Can Capital Gains Tax on the future sale of real property be reduced by transferring real property to multiple grantees?
Of course. Their eventual tax burden would be applied proportionately.Of course. Their eventual tax burden would be applied proportionately.Of course. Their eventual tax burden would be applied proportionately.Of course. Their eventual tax burden would be applied proportionately.
What determines how the burden of tax is divided between buyers and seller?
The burden of tax is divided between buyers and sellers by the forces of supply and demand.
What determines how the burden of a tax is divided between buyers and sellers?
The burden of tax is divided between buyers and sellers by the forces of supply and demand.
What is the tax that shifts the burden to those most capable of paying?
Progressive Tax
What are the disadvantages of sin taxes?
Sin tax is a tax placed on items that are considered harmful to human health. The disadvantages of the sin tax is whether or not these taxes actually discourage use of the products that the tax is trying to prevent.
What is sin tax?
A sin tax is an unusually high excise taxes on cigarettes, liquor, gambling, and so on.
