Does it bother you that the tax laws are set up so that the very rich (i.e. Mitt Romney) pay a smaller percentage of taxes than you probably do?

Does it bother you that the tax laws are set up so that the very rich (i.e. Mitt Romney) pay a smaller percentage of taxes than you probably do?
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1 Answer

Answer :

Sure: I think it bothers most of the 99%.
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When my income was $100,000, I paid $10,000 in taxes. When my income became $200,000, I paid $40,000 in taxes. My marginal tax rate is: a. 10% b. 20% c. 30% d. 40%

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Forced Savings refer to (1) Reduction of consumption consequent to a rise in prices (2) Taxes on individual income and wealth (3) Compulsory deposits imposed on income tax payers (4) Provident fund contribution of private sector employees

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Last Answer :  Reduction of consumption consequent to a rise in prices

The incidence of Tax refers to (1) Who pays the Tax ? (2) Who bears the burden of Tax ? (3) How Taxes can be shifted ? (4) Who transfers the Tax burden ?

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Which of the following taxes is such which does not cause rise in price ? (1) Import duty (2) Income tax (3) Octoroi (4) Sales tax

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A tax is said to be regressive when its burden falls - (1) less heavily on the poor than on the rich (2) more heavily on the poor than on the rich (3) equally on the poor as on the rich (4) None of these

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A tax is said to be regressive when its burden falls (1) less heavily on the poor than on the rich (2) more heavily on the poor than on the rich (3) equally on the poor as on the rich (4) None of these

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Last Answer : more heavily on the poor than on the rich

When you pay more than you owe in taxes and the IRS gives you money back, that money is called _________. A. A tax refund B. Gross pay C. Estimated tax D. An audit?

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What type of tax takes a larger percentage of wealthier taxpayers' income and a smaller percentage of the income of those who earn less?

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Buoyancy of a tax is defined as (1) percentage increase in tax revenue/percentage increase in tax base (2) increase in tax revenue/ percentage increase in tax coverage (3) increase in tax revenue/increase in tax base (4) percentage increase in tax revenue/ increase in tax coverage

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