Prior to beginning work on the final paper, read the entire assignment and grading rubric. The purpose of the final paper is for you to demonstrate the learning achieved in the course by describing...

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Prior to beginning work on the final paper, read the entire assignment and grading rubric. The purpose of the final paper is for you to demonstrate the learning achieved in the course by describing your understanding and application of knowledge in the field of tax accounting.


The topic for this assignment is as follows:


It is generally agreed that there are three primary tax rate structures utilized in this country, a progressive rate structure, a proportional rate structure, and a regressive rate structure. Various structures are used in different applications. For this paper, you are to describe each of these rate structures, list the pros and cons of each rate system, and then select the one rate structure you feel would be best utilized by the federal government to tax individual and business entities to support the running of the government, and support your selection with detailed reasons why it would be the best of the three available options.


Develop your ideas by moving from your description and analysis into your ultimate selection of the best option (see the Ashford Writing Center’s
Body Paragraphs(Links to an external site.)
resource for assistance). Your paper should incorporate at least three scholarly sources of your choice. Include a complete references list in APA Style at the end of the paper.


The paper must



  • Identify the main issues of the topic.

  • Contain and reference new learning that has occurred.

  • Build upon class activities or incidents that facilitated learning and understanding.


The paper must be submitted to your instructor no later than 11:59 pm of the time zone in which you reside on the last day of class.


The Three Primary Tax Rate Structures Final Paper


Answered Same DayMar 05, 2021

Answer To: Prior to beginning work on the final paper, read the entire assignment and grading rubric. The...

Sarabjeet answered on Mar 10 2021
150 Votes
Tax Structure
Tax Structure
Tax Structure    March 8    2020    
    
Contents
Introduction    2
Thesis statement:    2
list the pros and cons of each rate system,    3
Best Option    6
Conclusion    6
References    8
Introduction
The tax system is divided into 3 main ca
tegories: proportional, regressive, and progressive. Compared with high-income earners, return tax has a great impact on the low-income earners. It is believed that for low-income earners, rebate tax is difficult to solve because the refund is the same as the percentage of the product or commodity purchased, irrespective of the purchaser's income. Proportional tax simply applies to the similar tax rate for individuals, despite of their income. Progressive taxation is based on theory that higher income earners are able to pay more, and levies a higher percentage of taxes on the high income levels (CRANE & NOURZAD, 2007).
Thesis statement:
It is generally believed that the country adopts three main tax rate structures, namely a progressive tax rate structure, a proportional tax rate structure as well as a return tax rate structure. Various structures are used in different applications. The federal government preferably uses a rate structure to tax individuals and business entities to support government operations.
Progressive rate structure, financial impact of progressive tax on high-income individuals and enterprises is greater than that of low-income individuals. Progressive taxes need higher income people to pay very high share of the tax. Federal income tax is one of the best and most suitable examples of progressive taxes state tax revenue received by the government agencies. The service report shows that the highest 1% of taxpayers in terms of income paid almost 37% of the federal inco0me tax in 2016 (Evers & Spengel, 2014).
A proportional rate structure, that is, proportional tax, also known as fixed tax, has a relatively equal impact on low- and middle-income earners. They pay similar tax rate despite of their overall income. If all taxpayers pay the same proportion of tax, the tax is proportional. No taxes are truthfully proportional. The property taxes are usually closest because there is usually a closest relationship between the household income as well as value of a property they live in. Corporate income tax is usually levied on a pro rata basis because one tax rate simply applies to the nearly all corporate income (HORTON, 2019).
Regressive rate structure, Under the return tax system, low-income people pay higher taxes...
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