Income tax rates are such that Mr.R.Hood earns $35,000 per year and pays $7,000 in taxes,while Mr.G.Gisbourne earns $1 million per year and pays $200,000 in taxes.This tax is:
A) progressive.
B) regressive.
C) proportional.
D) a lump-sum tax.
Correct Answer:
Verified
Q171: A regressive tax:
A)takes a higher percentage of
Q172: Eli has annual earnings of $100,000 and
Q173: Use the following to answer question:
Q174: If the marginal tax rate is higher
Q175: A tax of $20 on an income
Q177: The _ rate applies to an additional
Q178: Use the following to answer question:
Q179: An efficient way to finance the provision
Q180: A regressive tax takes a:
A)fixed percentage of
Q181: The evidence suggests that federal taxes in
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