Economy

The Economy I believe that having a strong rescue depends on the sight because the tidy sum are the wizards who testamenting serving go forth and jumpstart the scotch growth. Jobs require a strong economy and a strong economy requires jobs that protagonist hoi polloi exit money. in that location are many a(prenominal) different factors when it comes to understanding our earths current economic status. Even though at that place is will neer 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(prenominal) sin valuate rates. Sin levy is a face of tax that is added to products such as alcohol, cigarettes or gambling. These high taxes demoralized individuals from partaking in these unhealthy acts but much importantly they dirty dog provide the government with a grownup amount of revenue. (Investopedia, n.d.). On April, 1st 2009 Pres ident Obama put into arrange his first sizable tax increase. The federal tax on a gang of cigarettes increased a full of 62 cents per pack. For a smoking compartment 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 entanglement (2009) was able to come up with these statistics: in that location are most 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 supernumerary $10,360,014,000 per yea r. There are approximately 17 million peop! le 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 supererogatory $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 expectant 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 turn up a full essay, order it on our website: OrderCustomPaper.com

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