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A tax which is based on the presence of alcohol in a product is an excise tax. Excise tax is usually a fixed rate tax expressed as a monetary amount per measure of the product. This means that the higher the amount of alcohol in a product, the higher is the excise tax.
Another federal tax is the excise tax, better considered a luxury tax for non-necessities, which include things like liquor, cigarettes, gas, and highways. Taxes that are imposed on imported goods so that there’s less foreign competition on the domestic market are called customs duties. States have their own taxes to support their programs.The current federal tax on a single pack of cigarettes is 39 cents (Tobacco Free Kids, 2007). Congress last voted to raise the tax on cigarettes in 1997 when it passed a 15-cent increase. This tax went into effect in January 2000 by 10 cents and the additional 5 cents followed in January 2002. This is a selective excise tax.Argumentative Essay: Sin Taxes Are Positive for Society 801 Words4 Pages Governments Should Tax Sin Products Higher In our country, the government has traditionally taxed some goods at a higher rate or at an additional rate. They do this to products called sin products, like cigarettes and alcohol.
The main purpose of the increase on the tobacco excise tax is to decrease the proliferation of the product, to discourage the consumers from buying such products, and to decrease the health dilemmas associated with smoking. Thus, it would be interesting to observe the impact of raising the tax on tobacco for smokers and non-smokers alike.Read More
Excise taxes are required by national, state or local governments, and regularly in mix with one another. The genuine expenses of excise taxes are by and large passed along to shoppers as higher costs, putting descending weight on customer request. Who bears the expense of the duty is determined by the elasticity of the good.Read More
Corporate taxes are especially unjust, because the top 1% of corporations in America make the overwhelming vast majority of all revenue and profits (it's even more skewed than for personal income), and yet they typically pay a much lower tax rate--either through the official tax rate or the combined effect of loopholes, subsidies, etc--than medium and small businesses.Read More
Thus, the regressive tax can be seen as being fair since all citizens will be paying the same amount of taxes. Another reason to convert the income tax into a regressive tax is to teach lower income earners the value of money. To explain, the government implements excise taxes in order to encourage or discourage certain behavior.Read More
A green tax is an excise tax that could provide considerable environmental pollution relief by promoting environmentally sustainable practices via economic incentives.Read More
Argumentative Essays Topics. . The excise tax is a collection of five different taxes, the highway, alcohol, airport, tobacco, and other taxes. The highway tax is a tax on gasoline and diesel fuels, which comprises an estimated 37.3 billion dollars. The airport tax is a tax that is connected with airline tickets.Read More
The U.S. central government levies excise taxes also referred to as sin taxes on some firearms, motor fuel, cigarettes, diesel, air tickets, tanning services, telephone usage, tires, and liquor. Often, excise taxes are allotted to special funds associated with the activity or object imposed to tax.Read More
Our other taxes, like payroll taxes, sales taxes, excise taxes, and property taxes, shift the total tax burden from the wealthy investing class to the working middle-class. It is more nearly accurate to say the top 5%, who hold 55% of the nation's wealth, pay only about 35% of all taxes in the United States.Read More
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Concerning the second argument, greater elasticity of demand means a tax on sugar will cause a greater decrease in consumption if these families had inelastic demand (see fig. 3). As the problem of obesity is disproportionately bigger among low-income families, a disproportionately bigger measure to counteract this problem is valid.Read More