https://padlet.com/emilano1/nkv0yxjhurkf Made with ♥ en-us 2019-05-14 12:10:54 UTC 2023-02-09 06:53:34 UTC hello@padlet.com emilano1 https://padlet.com/emilano1/nkv0yxjhurkf/wish/359853605 the money people spend is the Consumption Tax. Sales taxes are a good example of Consumption Taxes. Excise tax on goods is another example of Consumption Tax. ]]> 2019-05-14 12:12:35 UTC https://padlet.com/emilano1/nkv0yxjhurkf/wish/359853605 emilano1 https://padlet.com/emilano1/nkv0yxjhurkf/wish/359854367 This states that the wealthy who have a higher income pay taxes at a higher rate than the less wealthy. ]]> 2019-05-14 12:14:42 UTC https://padlet.com/emilano1/nkv0yxjhurkf/wish/359854367 emilano1 https://padlet.com/emilano1/nkv0yxjhurkf/wish/359855189 This means that taxes are lower for the wealthy individuals. This concept of taxation is the opposite as the progressive. ]]> 2019-05-14 12:16:55 UTC https://padlet.com/emilano1/nkv0yxjhurkf/wish/359855189 emilano1 https://padlet.com/emilano1/nkv0yxjhurkf/wish/359855618 No matter a person's income everyone pays the same amount of taxes. Proportional taxes are regressive taxes. These are common on the state but not federal level. ]]> 2019-05-14 12:18:15 UTC https://padlet.com/emilano1/nkv0yxjhurkf/wish/359855618 emilano1 https://padlet.com/emilano1/nkv0yxjhurkf/wish/359856310 This tax system is popular in Europe but the U.S. has no adopted it yet. This is a form of consumption tax because buyers pay it when they make a purchase. This is also similar to sales tax.]]> 2019-05-14 12:20:09 UTC https://padlet.com/emilano1/nkv0yxjhurkf/wish/359856310 emilano1 https://padlet.com/emilano1/nkv0yxjhurkf/wish/359857216 These taxes are taxes on your home. For as long as you live in your home you pay property taxes. ]]> 2019-05-14 12:22:31 UTC https://padlet.com/emilano1/nkv0yxjhurkf/wish/359857216 emilano1 https://padlet.com/emilano1/nkv0yxjhurkf/wish/359858294 Capital gains taxes only apply when a person makes an investment income after an investment is sold and capital gain is realized.]]> 2019-05-14 12:24:56 UTC https://padlet.com/emilano1/nkv0yxjhurkf/wish/359858294 emilano1 https://padlet.com/emilano1/nkv0yxjhurkf/wish/359858945 These are paid after someone dies. An estate tax is paid from the net worth of the dead. Inheritance tax does not exist at the federal level. They're taxes on the person receiving the inheritance. ]]> 2019-05-14 12:26:19 UTC https://padlet.com/emilano1/nkv0yxjhurkf/wish/359858945 emilano1 https://padlet.com/emilano1/nkv0yxjhurkf/wish/359859737 These taxes cover medicare, social security, disability and survivor benefits. ]]> 2019-05-14 12:28:15 UTC https://padlet.com/emilano1/nkv0yxjhurkf/wish/359859737 emilano1 https://padlet.com/emilano1/nkv0yxjhurkf/wish/359860343 They tax the income you earn. The marginal tax mans that there are different tax rates for different income brackets. ]]> 2019-05-14 12:29:42 UTC https://padlet.com/emilano1/nkv0yxjhurkf/wish/359860343