Types of taxes...help?!?

Berry Gilmore: I have no flipping idea - when I have a problem, I use this guyhttps://www.youtube.com/watch?v=pe1m4S-Gxzo

Shamika Schools: Wouldn't say those are all the taxes, those are just some. For example there are excise taxes, use tax, transfer tax, withholding taxes and more.

Mee Blumenfeld: These are the types of taxes: 1. Federal Income Tax2. State and/or Local Income Tax3. Payroll Tax4. Unemployment Tax5. Sales Tax6. Foreign Tax7. Value-Added Tax...Show more

Terrell Voltz: Some types of taxes are "progressive" which means they go up or down based on the amount of money involved. Income tax is an example. The more income you make, the more tax you pay. Most people think this is the most fair way to tax. Disadvantages are that progressive systems are usually complicated with lots of loopholes and they encourage wealthy people and companies to move where taxes are lower.Property taxes are another type of tax. They are taxes charged based o! n the property you own like homes, land, cars, boats and such. A disadvantage of property taxes is that they impose the same tax on a poor person who owns a car as a rich person. They don't usually have any way to adjust the rate based on a person's ability to pay.Consumptive taxes are taxes based on how much you use something. Sales taxes, hunting and fishing licenses and road tolls are examples. Like the property taxes, they are collected without regard to the person's ability to pay. They are often piled up into the final price of an item. The cost of gas to deliver the item to the store is rolled into the price and you pay a sales tax for the item so the consumption tax is paid at least twice.Capital gains taxes are based on the money you make from investing. There is one rate if you make the money in less than a year and another if it takes more than a year (short and long term capital gains). There are two main disadvantages to them. First, they discourage i! nvestment in stocks which reduces money available to corporati! ons which can reduce the number of employees they hire. Second, they tax the same money twice. The company pays taxes on their profits and then when they pay you a dividend with whats left, you pay taxes again....Show more