Learning Goal: I’m working on a finance question and need an explanation and answer to help me learn.
Based on our discussions regarding income taxation and taxation on goods and services, we’ve learned that there are some real questions regarding both equitability and transparency. This week, we’ll continue to focus on taxes on goods and services. This assignment will provide an opportunity to see the advantages and disadvantages of both income taxes and taxes on goods and services to help us in our understanding of the complications involving the implementation of a government revenue generating policy that is both equitable and transparent. Please review the attached weblink article titled “Replacing the Income Tax with a National Sales Tax” using the attached link. Once you’ve reviewed the pros and cons, please provide your input regarding these ideas. Using this information and information provided in the text and lecture, draft a two-page analysis answering the question, “As the newly elected Senator in your state, what revenue source(s) would be best for your constituents and ensure the revenue required by the federal government provides for a realistic fiscal budget.”
Replacing the Income Tax with a National Sales Tax
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