Business Finance Homework Help

Part 1

Tax structures vary by country and each structure has benefits and shortcomings. In your post, name the three types of tax rate structures, explain in your own words the benefits and shortcomings of each, and give an example of each.

Part 2

Congress has chosen to exempt certain income from taxation, such as scholarships, gifts, life insurance proceeds, municipal bond interest, and employee fringe benefits. Given that one of the primary purposes of Congress is to raise revenue for the government, explain in your post why you think Congress would provide these and other exemptions.