Answered

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1. Have federal income taxes always existed?

2. What term would you use to describe state and federal income taxes as they increase with a person's income?

3. What are other types of taxation methods in addition to income tax?

4. Are tax-free exchanges a good idea?

Sagot :

GinnyAnsweridn

Final answer:

Federal income taxes have been in existence since 1861 in the US, are termed progressive when they increase with income, and other taxation methods include sales tax and property tax.


Explanation:

Federal Income Taxes: Federal income taxes in the United States were first imposed in 1861 to fund the Civil War and have been in existence ever since, with changes and amendments over time.

Progressive Taxation: State and federal income taxes that increase with a person's income are termed progressive taxes. As income rises, the tax rate also increases.

Other Types of Taxes: Besides income tax, other types of taxation methods include sales tax, property tax, and excise tax.

Tax-Free Exchanges: Tax-free exchanges can be advantageous in certain situations, such as in real estate transactions, to defer tax liability.


Learn more about taxation and income here:

https://brainly.com/question/22066348


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