Policy Proposal 1: Replace the existing system with a progressive tax system that would tax business and individuals, using these schedules: Business Tax Rates You Pay This Amount on the Base of the Bracket Plus This Percentage on the Excess If your Taxable Income Is Up to 10,ODD,0DD 10,00D, D0D-25,00D,DDD 25,DDD,D0D-60,0DD,DDD 0,DDD, D0D-90,0DD,DDD Over 90,ODD,ODD SR8DD,DDD SR3,200,000 SR11,600,000 SR21,20D,DDD ower the Base 8% 16% 24% 32% 40% Personal Tax Rates You Pay This Amount on the Base of the Bracket Plus This Percentage on the Excess If your Taxable Income Is Up to 16,0D0 16,000-38,0D0 3,000-75,DDD Over 75,00D ower the Base SR1,440 SR5,840 SR16,940 20% 30% 40% Given these tax schedules, calculate the tax liabilities for: Taxpayer Tax obligation Average Tax Rate Vinber Vintners Company, which eams an income of SR65,00D,000 The following three individual taxpayers: (1) Baldur, a baker eaming SR18,0DD per year; (2) Lara, a famer eaming SR42,000 per year; (3) Hinrik, a banker eaming SR87,0DD per Vinber Vintners Baldur Lara Hinrik If you were the owner or manager of a Rodosian business, such as vinber Vintners, would you prefer the existing tax system or the progressive tax system? why? O O O The progressive tax system, because the firm's tax obligation would be greater than that incured under the existing system. This would reduce the profit available to the firm and its shareholders. The existing tax system, because my tax obligation would be less than that incured under the progressive system. This would increase the amount of unds available to the firm's shareholders. The existing tax system, because my tax obligation would be greater than that incurred under the progressive system. This would reduce the profi available to the firm and its shareholders. Policy Proposal 2: Assess a special tax on businesses that own more than 10 horses or oxen. what effect will this tax have on Rodosian businesses? O This tax on more than 10 horses or oxen has the pobential to penalize businesses from growing beyond a certainlevel. This will reduce the Treasury's tax revenues and pabentially limit the growth pobential and sales of businesses that provide goods and services to the taxpayers being assessed. O The tax will not affect the businesses being assessed the tax or the Treasury's tax revenues. O This is an example of a sin tax. Policy Proposal 1: Replace the existing system with a progressive tax system that would tax business and individuals, using these schedules: Business Tax Rates You Pay This Amount on the Base of the Bracket Plus This Percentage on the Excess If your Taxable Income Is Up to 10,ODD,0DD 10,00D, D0D-25,00D,DDD 25,DDD,D0D-60,0DD,DDD 0,DDD, D0D-90,0DD,DDD Over 90,ODD,ODD SR8DD,DDD SR3,200,000 SR11,600,000 SR21,20D,DDD ower the Base 8% 16% 24% 32% 40% Personal Tax Rates You Pay This Amount on the Base of the Bracket Plus This Percentage on the Excess If your Taxable Income Is Up to 16,0D0 16,000-38,0D0 3,000-75,DDD Over 75,00D ower the Base SR1,440 SR5,840 SR16,940 20% 30% 40% Given these tax schedules, calculate the tax liabilities for: Taxpayer Tax obligation Average Tax Rate Vinber Vintners Company, which eams an income of SR65,00D,000 The following three individual taxpayers: (1) Baldur, a baker eaming SR18,0DD per year; (2) Lara, a famer eaming SR42,000 per year; (3) Hinrik, a banker eaming SR87,0DD per Vinber Vintners Baldur Lara Hinrik If you were the owner or manager of a Rodosian business, such as vinber Vintners, would you prefer the existing tax system or the progressive tax system? why? O O O The progressive tax system, because the firm's tax obligation would be greater than that incured under the existing system. This would reduce the profit available to the firm and its shareholders. The existing tax system, because my tax obligation would be less than that incured under the progressive system. This would increase the amount of unds available to the firm's shareholders. The existing tax system, because my tax obligation would be greater than that incurred under the progressive system. This would reduce the profi available to the firm and its shareholders. Policy Proposal 2: Assess a special tax on businesses that own more than 10 horses or oxen. what effect will this tax have on Rodosian businesses? O This tax on more than 10 horses or oxen has the pobential to penalize businesses from growing beyond a certainlevel. This will reduce the Treasury's tax revenues and pabentially limit the growth pobential and sales of businesses that provide goods and services to the taxpayers being assessed. O The tax will not affect the businesses being assessed the tax or the Treasury's tax revenues. O This is an example of a sin tax