Many Economists Have Suggested That Workers and Consumers Bear Much

question 7

Essay

Many economists have suggested that workers and consumers bear much of the burden of company income tax.In the light of this suggestion, explain why the company income tax is so popular among voters.How does the 'flypaper theory' of tax incidence relate to the company income tax?

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Definitions:

Taxable Income

Taxable income is the amount of an individual's or a corporation's income used to determine how much tax is owed to the government.

Healthcare Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured, either reimbursing the payments made to healthcare providers or directly paying providers.

Health-Care Expenditures

Refers to the total amount of spending on health care services and products in a given period, including public and private expenditures.

Government

An organized system that establishes rules and regulations and provides services to the community; it is responsible for the political direction and control over a community, society, state, or nation.