I believe that having a strong preservation depends on the sight because the people are the ones who willing help go forth and jumpstart the economic growth. Jobs require a strong economy and a strong economy requires jobs that help people exit money. in that location are many different factors when it comes to understanding our earths current economic status. Even though at that place is will never be a quick develop to our economys problem, I am going to evidence to explain in this paper what I would do to amend the economy if I was suddenly in charge by imposing higher sin valuate rates.
Sin tax is a type of tax that is added to products such as alcohol, cigarettes or gambling. These high taxes discouraged individuals from partaking in these unhealthy acts but much importantly they can provide the government with a grownup amount of revenue. (Investopedia, n.d.).
On April, 1st 2009 President Obama put into arrange his first large tax increase. The federal tax on a pack of cigarettes increased a full of 62 cents per pack. For a smoker that smokes one pack a daylight this increase adds up to an extra of 226 dollars per year.
By using the number from the 2000 census, the Accounting Web (2009) was able to come up with these statistics:
There are approximately 218 million people age 18 and over in the United States. If 21 percent of those people smoke one pack of cigarettes per day, the federal
government will collect an additional $10,360,014,000 per year. There are approximately 17 million people age 14-17 in the United States. If 20 percent of those people smoke one pack of cigarettes per day, the federal government will collect an additional $769,420,000 per year.
Thats a total of $11,129,434,000 per year of additional revenue for the federal government, gained in the mark of a tax increase affecting approximately 21 percent of the adult population and 20 percent of the immature population (para.7).
There are many different ship canal a raise in tobacco taxes could...If you want to conk out a full essay, order it on our website: Ordercustompaper.com
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