Question
What can we say about this post? The tax I have chosen is income tax 2. I would say that income tax meets Adam Smith's
What can we say about this post?
The tax I have chosen is income tax
2. I would say that income tax meets Adam Smith's criteria of a good tax. It is equal in that the more money you make, the more you pay in taxes. Income tax only partially satisfies the "certainty" need, we know when we need to pay the taxes but the amount is not clear and plain. The timing of income tax is not inconvenient either. Lastly, the tax can be qualified as simple because everyone is put into a tax bracket and that is the percentage of your income that you pay in taxes.
3. This tax is progressive because the richer you are, the more you pay in taxes. The tax brackets range from 10-37% and progressively increase as your income increases.
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