Question

7. Write any two positive impacts of Taxes ?​

Answer 1

Answer:

The positive effects of tax rate cuts on the size of the economy arise because lower tax rates raise the after-tax reward to working, saving, and investing. These higher after-tax rewards induce more work effort, saving, and investment through substitution effects

Answer 2

Explanation:

The positive effects of tax :-

• rate cuts on the size of the economy arise because lower tax rates raise the after-tax reward to working, saving, and investing.

• These higher after-tax rewards induce more work effort, saving, and investment through substitution effects.

FOR MORE INFORMATION KINDLY READ THE DOWN STATEMENT'S.

How are taxes used?

• The federal taxes you pay are used by the government to invest in technology and education, and to provide goods and services for the benefit of the American people. The three biggest categories of expenditures are: Major health programs, such as Medicare and Medicaid.

why is tax important for the economy?

• And they require that governments raise revenues. Taxation not only pays for public goods and services; it is also a key ingredient in the social contract between citizens and the economy. How taxes are raised and spent can determine a government's very legitimacy

What are the most important taxes?

ANSWER→Three main types of taxes

• Progressive taxes. This is a type of taxation where as you have more income that is subject to tax, you pay higher average rates.
• Regressive taxes.
• Proportional and flat taxes.
• Federal income tax.
• State and local income taxes.
• FICA and other payroll taxes.
• Self-employment taxes.
• Capital gains taxes.

What is an example of a tax?

• An example of a tax is a portion taken out of weekly paychecks and sent to the government. Tax is defined as to make people pay a percentage of money to the government. An example of to tax is to charge citizens self employment tax at the end of the year.

What is a tax in simple words?

• Tax is money that people have to pay to the government. For example, taxes are used to pay for people who work for the government, such as the military and police, provide services such as education and health care, and to maintain or build things like roads, bridges and sewers.