Give an example of income in the United States that is taxed twice
What will be an ideal response?
Corporate income is taxed once when it is earned and then again when it is distributed to shareholders as dividends and they have to claim it on their personal income taxes.
You might also like to view...
Government ownership of property and resources in the United States is
A. about as common as it is in European countries. B. widespread; the United States is a leader in the amount of government ownership of resources. C. relatively rare; the United States is mostly privatized. D. rare but has been increasing rapidly as the United States catches up to other countries.
Refer to Figure 9-1. Based on the graph of the labor market above, if a minimum wage of $8 per hour is imposed, which of the following will result?
A) The quantity of labor demanded by firms will rise. B) The quantity of labor demanded by firms will fall. C) The unemployment rate will fall. D) Both A and C will occur.
Which of the following would cause the U.S. demand curve for Japanese yen to shift to the right?
a. An increase in the U.S. inflation rate compared to the rate in Japan. b. A higher real rate of interest on investments in Japan than on investments in the United States. c. The popularity of Japanese products increases in the United States. d. All of these.
The idea that poor people consume a higher percentage of their income than the rich is a logical conclusion drawn from
a. Keynes's absolute income hypothesis b. Duesenberry's relative income hypothesis c. Friedman's permanent income hypothesis d. the life-cycle hypothesis of consumption e. the consumption function