taxes
Terms
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- regressive tax
- a person with a lower income pay a larger perccentage of tax
- direct tax
- a tax on income
- necessary
- a tax shouldpay for something that citizens want
- certain
- the government must know how much money people will have to pay and how much a tax is likely to raise
- proportional tax
- each taxpayer pays the same propportion of his or her income taxes
- economical
- the cost of collecting thetax must be small compared to the amount of money collect
- indirect tax
- generally ends up as part of the price a consumer pays for a product ----a sales tax is an indirect tax
- ability to pay
- usually relates to how much a pers earns
- progressive tax
- a person with a lower income pays a larger percentage of tax
- fair
- people in the same situations should be treated alike when it comes to paying taxes
- convenient
- if taxpayers find it hard to pay, it is not convenient; if government finds it hard to collect' it is not convenient