What is a tax? Explain the differences between types of taxes. What is the purpose of taxes? What are some limits on the government's taxing power?

What is a tax? Explain the differences between types of taxes. What is the purpose of taxes? What are some limits on the government's taxing power?



-TAX: charge levied by government on persons or property to meet public needs.
-Direct tax must be paid by the person on whom it is levied.
-Indirect tax: a tax levied on one party but passed onto another for payment.
1. congress may tax only for public purposes, not for private benefit.
2. congress may not tax exports.
3. direct taxes must be apportioned among the states.
4. indirect taxes must be levied at a uniform rate in all parts of the country.

Comments

Popular posts from this blog

Discuss the seven characteristics of useful information.

Why have accounting software packages been designed with separate transaction modules?

A laboratory assistant prepared solution of 0.8 M, 0.6 M, 0.4 M, and 0.2 M sucrose, but forgot to label them. After realizing the error, the assistant randomly labeled the flasks containing these four unknown solutions as flask A, flask B, flask C, and flask D.