Ricky and lucy are debating several types of taxes. their debatehas focused on the...

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Accounting

Ricky and lucy are debating several types of taxes. their debatehas focused on the differents types of tax rate structures andwheter thay are fair. Please define each tax rate structure,provide examples of each structure, and discuss how each structuremay be viewed with respect to vertical equity

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Definition of different tax structures and their examples and discussions are provided below Proportional tax rate structure This is a flat tax rate structure in which a constant tax rate is imposed irrespective of the quantum of income being taxed An example of such a type of tax rate structure is sales tax Progressive tax rate See Answer

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In: AccountingRicky and lucy are debating several types of taxes. their debatehas focused on the differents...Ricky and lucy are debating several types of taxes. their debatehas focused on the differents types of tax rate structures andwheter thay are fair. Please define each tax rate structure,provide examples of each structure, and discuss how each structuremay be viewed with respect to vertical equity