HISTORY AND OBJECTIVES OF TAX LAW essays

HISTORY AND OBJECTIVES OF TAX LAW essays Tax Law in our country is as old as the constitution itself and the history of taxes in this land goes back to the days of British colonial rule. One thing, which must be remembered, is that tax law id directly connected with government revenues. Higher the taxes, greater the revenues. For this reason, taxes are used as a good source of government's income. Revenue collection is usually the most important purpose behind the imposition of a new tax or increase in the present ones. However revenue collection is not the sole objective even though it is certainly the most important one. There are other reasons for which taxes are either increased or decreased. Tax law is actually one of the very few fiscal measures that government has to control the financial markets. Apart from its main objective, which is revenue for the government, taxes also help in controlling economic activity in the country and are often used by the government to control the flow of money in the markets. During the colonial days, when British rulers needed money for their war with France, taxes were levied on poor colonies, which did not enjoy any representation in the government. This led to the famous no taxation without representation' debate. After the American Revolution, the country had no deferral taxes for some time since the central government did not have the power to levy taxes. Each state was autonomous and was seen as a separate sovereign power that could levy the taxes according to the needs of their respective governments. Since there was no clear constitution for more than a decade after the independence, federal tax law was non-existent and only state taxes existed. However after the adoption of Constitution in 1789, federal government became more powerful as the Constitution recognized its right to "lay and collect taxes, duties, imposts, and excises, pay the Debts and ...

How to Solve Algebra Problems Step-By-Step

How to Solve Algebra Problems Step-By-Step Solving Algebra word problems is useful in helping you to solve earthly problems.  Ã‚  While the 5 steps of Algebra problem solving are listed below, this article will focus on the first step, Identify the problem. Use the Following Steps to Solve Word Problems: Identify the problem.Identify what you know.Make a plan.Carryout the plan.Verify that the answer makes sense. Identify the Problem Back away from the calculator; use your brain first.  Your mind analyzes, plans, and guides  in the labyrinthine quest for the solution. Think of the calculator  as merely a tool that makes the journey easier.  After all, you wouldn’t want a surgeon to crack your ribs and perform a heart transplant without first identifying the source of your chest pains. The steps of identifying the problem are: Express the problem question or statement.Identify the unit of the final answer. Step 1:  Express the Problem Question or Statement In Algebra word problems, the problem is expressed as either a question or a statement. Question: How many trees will John have to plant?How many televisions will Sara have to sell to earn $50,000? Statement: Find the number of trees John will have to plant.Solve for the number of televisions Sara will have to sell to earn $50,000. Step 2: Identify the Unit of the Final Answer What will the answer look like? Now that you understand the word problem’s purpose, determine the answer’s unit. For example, will the answer be in miles, feet, ounces, pesos, dollars, the number of trees, or a number of televisions? Example 1: Algebra Word Problem Javier is making brownies to serve at the family picnic.  If the recipe calls for 2  ½ cups of cocoa to serve 4 people, how many cups will he need if 60 people attend the picnic? Identify the problem:  How many cups will Javier need if 60 people attend the picnic?Identify the unit of the final answer: Cups Example 2: Algebra Word Problem In the market for computer batteries, the intersection of the supply and demand functions determines the price, p dollars, and the quantity, q, of goods sold.Supply function: 80q - p 0Demand function:  4q p 300Determine the price and quantity of computer batteries sold when these functions intersect. Identify the problem:  How much will the batteries cost and how much will be sold when supply and demand functions meet? Identify the unit of the final answer: The quantity, or q, will be given in batteries. The price, or p, will be given in dollars. Here are some free algebra worksheets for practice.