FairTax 1. Will transfer tax burden from upper class to middle class 2. Will negatively impact housing market and charities 3. Will create huge underground economy and will lead to higher rates on consumption than predicted 4. Will not abolish IRS‚ but rather require increased government monitoring to ensure tax compliance 5. Not enough evidence of practicality and beneficial results of FairTax to justify risks Pretty much everyone would agree that our current tax system is almost comically
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is looking to solve tax related issues? Or maybe you are just an average person that has had some major financial setbacks over the past couple of years and have not been able to pay your back taxes? If any of these are the case then you should consider consulting with an experienced tax relief attorney who can help you get out of serious tax related issues. These lawyers can assist you by providing you with all of their expertise and knowledge in getting maximum possible tax relief. Most people
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10(34). This includes deemed dividend under sections 2(22)(a) to (d). This is because such dividend attracts dividend distribution tax @ 12.5% in the hands of the company. (2) The TDS provisions under this section are attracted only in respect of deemed dividend referred to in section 2(22)(e)‚ if such dividend exceeds Rs. 2‚500 in a year. (3) The rate of deduction of tax in respect of such dividend is 20% plus surcharge‚ if applicable‚ plus education cess. (4) Under the proviso to section 194‚
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Junk Food Tax The current issue of junk food consumption and the overall obesity battle in America continues to plague our nation. The suggestion to counteract this problem is the implementation of a “junk tax”. ProQuest states that‚ “’junk food tax’ refers to a tax placed upon fattening foods or beverages” (Par. 1). The intention of the tax is to minimize the consumption of unhealthy foods‚ which would expectantly lead to a healthier population. A junk food tax would also generate revenue for causes
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A REPORT ON CARBON TAX TABLE OF CONTENTS EXECUTIVE SUMMARY………………………………..…. 5-5 INTRODUCTION……………………………………….…….6-6 BACKGROUND INFORMATION…………………………...7-7 ISSUES AND PROBLEMS……………………………….…..8-8 DISSCUSSION (CRITICAL ANALYZIS)…………………...9-11 RECCOMENDATIONS……………………………………..11-12 IMPLIMENTATIONS………………………………………..12-13 REFERENCES……………………………………………......14-14 EXECUTIVE SUMMARY People have started to think about the ever
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Sin Tax Bill (For the Government) OVERALL SUMMARY: According to James Sadowsky‚ author of The Economics of Sin Taxes‚ taxes imposed on products seen as vices such as alcoholic liquors and tobaccos are called sin tax. Aside from the commodities being objects of disapproval‚ even their consumers accept such taxes because they seem to hit two birds in one stone. First‚ they raise revenues and second‚ they made vices expensive. House Bill 5727 or also known as the Sin Tax Bill aims to reform the
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Progressive Income Tax Fairness The issue of federal income tax policy has been one of hot debate and controversy for many years. Discussions and arguments on the issue have been presented on the floors of Congress‚ in the United States Supreme Court‚ used by politicians as political platforms‚ broadcasted in televised debates‚ and discussed around the dinner table of American families of various socioeconomic backgrounds for years. The Federal Government of the United States of America‚ like any
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Income-tax Act‚ 1961 | No. | Title | Section - 001 | Short title‚ extent and commencement | | Section - 002 Part A | Definitions [Clause (1) to Clause (15)] - "Advance Tax" to "Charitable Purpose" | | Section - 002 Part B | Definitions [Clause (15A) to Clause (30)] - "Chief Commissioner" to "Non-resident" | | Section - 002 Part C | Definitions [Clause (31) to Clause (48)] - "Person" to "Zero Coupon Bond" | | Section - 003 | Previous year defined | | Section - 004
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industry makes it easy to eat unhealthy. Fast food is a quick‚ cheap‚ and tasteful meal made accessible to virtually anyone. When comparing prices at a grocery store‚ for the most part its clear junk foods are less expensive than healthy foods. If a tax was placed on unhealthy foods‚ it would make a substantial difference in the way consumers shopped. In 1938‚ the Agriculture Act was passed to allow the government to financially aid farmers that grow corn‚ cotton‚ and wheat due to the shortage of
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My final argument will be based on the effectiveness of this tax: The tax will have no significant impact on greenhouse gas emissions. It has been claimed that an Australian carbon tax will have no significant impact on the level of greenhouse gases in the earth’s atmosphere. This claim has been made on two bases. Firstly that it is unlikely to succeed in significantly reducing Australian greenhouse gas emissions and secondly‚ that even if these emissions were to stop completely this would have no
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