Tax Rate Change??

Tax Rate Change??

by Luke Metzler -
Number of replies: 1

How drastically do tax rates change when it comes to a certain product? I know that the supply and demand will change depending on the elasticity of the product but how would that affect the tax rate?

In reply to Luke Metzler

Re: Tax Rate Change??

by Danny Weaver -
Tax rates are determined arbitrarily by the state. Supply or demand will change dependent upon who is paying the tax, but ultimately the group to bear the burden will be whichever side of the market is more inelastic.
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