The figure below shows a simplified version of the current Canadian federal income- tax system. The marginal income- tax rates for the four ranges of income are 15 percent, 22 percent, 26 percent, and 29 percent, respectively. FIGURE 18- 2
-Refer to Figure 18- 2. This income- tax system can be characterized as

Question

The figure below shows a simplified version of the current Canadian federal income- tax system. The marginal income- tax rates for the four ranges of income are 15 percent, 22 percent, 26 percent, and 29 percent, respectively.  FIGURE 18- 2
-Refer to Figure 18- 2. This income- tax system can be characterized as

Quizplus · Accepted Answer

The income-tax system in the figure is progressive, meaning that as income increases, the marginal tax rate also increases. This is a common approach to income taxation, as it places a greater burden on those with higher incomes and can help to reduce income inequality.

The Figure Below Shows a Simplified Version of the Current