Asked by Chyna Forrester on Jul 07, 2024
Verified
Which of the following taxes is based on the ability-to-pay principle?
A) Toll on a bridge
B) Income taxes
C) Gasoline excise taxes
D) Property taxes
E) User fees that collect the same amount from each person
Ability-to-Pay Principle
A taxation principle that argues taxes should be levied according to an individual's or entity's capability to bear the tax burden.
Income Taxes
Taxes levied by governments on individuals or corporations' income, where the tax rate may increase as the taxable amount increases.
Excise Taxes
Taxes imposed on the sale of specific goods and services, such as tobacco, alcohol, and gasoline, usually aimed at discouraging their consumption or generating revenue.
- Attain an understanding of the justification, primary principles, and impacts of different tax schemes.
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Learning Objectives
- Attain an understanding of the justification, primary principles, and impacts of different tax schemes.
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