In: Accounting
1_ “Sales taxes are fairer than income taxes because sales taxes cannot be avoided by the rich.” Discuss & evaluate this idea, using tax policy concepts to provide support for your evaluation. Is it possible to design a sales tax that is more progressive than a personal income tax? What would this tax structure look like? “Sales taxes are fairer than income taxes because sales taxes cannot be avoided by the rich.” Discuss & evaluate this idea, using tax policy concepts to provide support for your evaluation. Is it possible to design a sales tax that is more progressive than a personal income tax? What would this tax structure look like?
2_States are increasingly relying on revenue from gambling to generate funds for their financial plans on annual basis. Lotteries, for example, have been on the rise with states providing their own jackpots, and increasing the jack-pots by utilizing multi-state games. Please provide some of the policy rationale for using this revenue source, along with some of the issues that policy makers should focus on in the future.