MAYOHAYO7394 MAYOHAYO7394

19-12-2022
Business

Answered

Consulting the ITEP document Who Pays
https://itep.sfo2.digitaloceanspaces.com/whopays-ITEP-2018.pdf
Question #1 of 5: Looking at the first income quintile for any state (the lowest 20%), there is sometimes a negative number when it comes to the income tax. What does that mean?
This reflects the presence of a state or local Earned Income Tax Credit, which has the same effect as the federal EITC, namely, it wipes out any state income tax liability for low income workers and refunds them a portion of what they paid.
This reflects the value of government subsidies for housing, food, home heating, and income supports.
This reflects the tendency of low-income households to avoid taxation through participation in the "informal" economy.
None of the above.

Answer :

KunalYadav273 KunalYadav273

27-12-2022

The importance of government assistance with housing, food, home heating, and income support is reflected in this.

Which places define tax?

A tax is a necessary fee and economic charge that a government imposes on a person or a business in order to raise money for public projects like building the greatest infrastructure and services. Different public spending initiatives are then funded with the funds that have been raised.

Briefing:

Giving those with incomes below a given threshold money is possible with negative income tax. It authorities would provide assistance in the way of subsidies to eligible low income households. A family with no income is eligible for assistance.

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