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Tax Policy Advantages and Disadvantages

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1. What are the advantages and disadvantages of sales taxes for states?

2. What are targeted tax incentives? What difficulties do states risk when they use targeted tax incentives for economic development purposes?

3. How do the considerations in state tax policy differ from the considerations in federal tax policy?

4. How has direct taxpayer action affected state tax policy?

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Solution Summary

The expert examines the tax policy and sales tax advantages and disadvantages.

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Question 1
Sales taxes are a big source of tax revenues for the states. These taxes are used to fund states projects such as health services.

On the other hand sales taxes are eventually passed on to customers. This means that the higher sales taxes are the higher the prices that consumers have to pay for products and service. This also means that sales taxes, in effect, decrease the purchasing power of citizens. Furthermore, the ...

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