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The Elastic Clause does not give Congress the right to increase tax rates. However, it did allow them to print coin and paper money.

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Q: Can the congress use the elastic clause to increase tax rates?
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Continue Learning about American Government

What are examples where congress has power over the president?

Power of the purse: congress can limit funding on things like war the president supportsAppointment confirmation: congress has to agree on the appointment of officials by the president.Congress can remove a president that is not doing his/her job.

Which action is an example of domestic policy?

Policy about income tax rates is an example of domestic policy. "Domestic" means at home, as opposed to foreign.

Which of the following situations most clearly describes the changes in U.S. politics that resulted from the civil rights movement?

a city sees racial minority voting rates increase significantly each year.

Who creates the caps on government borrowing?

In the USA it is Congress. They have to pass legislation to authorize the government to borrow more money (raise the debt ceiling). Indirectly the Federal Reserve and the market also put a cap on it since the ability to borrow depends on the interest rate that must be paid on any bonds issued by the government. Higher interest rates set by the Fed cause the interest rates that must be paid on government bonds to have to be higher to actually sell. The market also determines what interest rate will be required to sell all the bonds - the less demand there is for the bonds, the higher the interest rate has to be in order to make them attractive enough to sell and the better the yields on other potential investments, the higher the interest rates have to be in order to be sufficiently competitive. The higher the interest rates, the more difficult it is to get approval to borrow.

Why did industrialists oppose the increased coinage of silver during the nineteenth century?

In my view, the industrialists feared that coinage of silver would increase the money supply and thereby lower interest rates to the benefit of the debtors, such as farmers, and the detriment of the creditors, such as the industrialists.

Related questions

What is the relationship between demand for money and interest rates?

as interest rates increase, demand for money increases.

Did congress require railroads to charge reasonable and just rates?

how did congress limited reasonable charges

What tends to result in an increase in the selling price of houses in an area?

An increase in mortgage interest tates.

Which of the following tends to result in a decrease in the selling price of houses in area?

an increase in mortgage interest rates

An increase in interest rates affects aggregate demand by?

An increase in interest rates decreases the aggregate demand shifting the curve to the left.

What is One way to increase the rates of chemical reactions is to increase what?


Which country has the lowest natural increase rate?

Countries with the lowest natural increase rates typically have low birth rates and/or high death rates. As of a 2021 United Nations report, countries like Bulgaria, Latvia, and Japan have some of the lowest natural increase rates in the world.

If expected inflation increases interest rates are likely to increase?

Yes, inflation and increases in interest rates usually go hand-in-hand, though inflation is not the sole cause of an increase in interest rates

How are interest rates being affected in the auto industry?

Higher interest rates mean that the demand for cars have increased, due to an increase in consumer demand. Lower interest rates mean that there is a lower demand and the FOMC is lowering the rates to increase consumer demand. Lower rates, however could also increase the demand for cars. This is why the Feds have to higher the interest rates, to ensure that the supply and demand are at an equilibrium point.

The principal reason congress raised tariff rates in the late 1800's and early 1900s was to?

1. Increase personal income taxes 2. Lower prices for American Consumers 3. Guarantee high wages to American Workers 4. Protect United States businesses from foreign competition. That was the principal reason why Congress raised tariff rates in the late 1800s and early 1900s.

Does an increase in interest rates in the rest of the world lead to a stronger dollar?

could an increase in interest rates in the rest of the world will lead to a stronger U.S. dollar.

Where are the highest rates of natural increase found in the world the lowest?

Please clarify, increase of what.