Tax System in the United States

Tax System in the United States

The Difference between Statutory and Actual Tax Rates

Economy of a country is managed through a set of regulations and policies to foster an environment of opportunities and growth. Two of major policies which are used by economists and government to manage country's economy are the fiscal policy and monetary policy. Fiscal policy is the revenue and expenditure of a country. Taxes are the revenue engine of any country. However, the government understands that tax system, tax rates, and tax rules have direct impact on the lives of common citizens, irrespective of ...