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Essay example - The use of Sales Tax
Finance & Accounting
Pages 3 (753 words)
The use of sales tax in American History is one of the most pivotal aspects in the capitalistic Democracy that Americans live in. Throughout American history, the use of tax was prevalent for raising capital, building infrastructures and paying the army. This can be even seen during the revolutionary war and the war of 1812 itself…
Extract of sample
The drive of capitalism for this country relied on many factors that included slavery, turned raw goods into products, factories, and the ability to produce such a drastic workforce. Hence, Smith’s ideas of capitalism along with an adequate tax system that can power the nation in its quest to be financially solidified. The use of sales tax in America is implemented at a state level and is utilized for education, infrastructure, and Medicare. Many cities and countries have their own special rules regarding state tax. In essence, there is no federal sales tax. Clearly, that is because the population of state tax varies based on population, deficit, and economic growth (“Rousse, 66”). Although no clear of sales tax can be found during the revolutionary time period, the forefathers of the country did implement an excise tax on whiskey enacted in 1791. For instance, Minnesota does not have a sales tax. Sales tax is calculated by multiplying the original price of the item by a tax rate. Sales tax is also special in a fact because it is collected at the time of sale (“Rousse, 66”). Sales tax is unique in its manner because it is only imposed once during the time of purchase. However, this rule can be modified. For instance, items such as used cars fit this description. ...
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