Tax Policy with Professor Fisher
Please find the video on the Kogod School of Business page on Facebook and watch the video according to the assignment requirement I gave you. Second, answer five questions from Extra credit in conjunction with the video content. Be sure to watch the video and answer those questions carefully. Thank you
To complete this extra credit assignment, please follow the steps below.
1. Login to Facebook (you can use a friend's account if you don't have an account of your own).
2. Go to the "Kogod School of Business" Facebook page.
3. Go to the video section and select the "The Facts on Tax" with Professor Tara Fisher. You will have to scroll through the videos to find this selection. It was recorded last Spring.
4. Watch the 24-minute video with some soda and popcorn (its a Hollywood blockbuster!)
5. Complete the attached Word document (5 questions) and submit it through this link on Blackboard by 8am, Monday 16th to receive 1.0 percent of extra credit towards your final grade.
Tax Policy with Professor Fisher
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Tax Policy with Professor Fisher
The discussion about apportioning tax revolves around typically two major philosophies: the ability to pay and benefit received. The ability to pay principle dwells on the idea that the tax burden ought to be directed specifically to an individual’s income and wealth. The principle copes that persons or enterprises with massive incomes must pay more taxes compared to the ones with lower incomes. On the other hand, the benefit-received principle of taxation stands in great contrast with the ability to pay principle. It states that households and businesses should purchase the goods and services of the government in the same way as other goods. It also asserts that those who enjoy the provision of some certain commodities should incur the tax necessary for their supply. The ability to pay principle is associated with the income tax while the benefits received principle is associated with consumption.
Vertical equity is a tax-collecting method where persons are subject to tax increment relative to the amount of income earned. It basically states that a greater tax contri...
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