The federal income tax is an example of ____________, while the Social Security tax is an example of ______________.

Question

Quizplus · Accepted Answer

The federal income tax is a progressive tax, meaning that individuals with higher incomes pay a higher percentage of their income in taxes. The Social Security tax, on the other hand, is a regressive tax, meaning that individuals with lower incomes pay a higher percentage of their income in taxes. This is because the tax is a flat rate on income up to a certain point, so individuals with incomes above that point pay a lower percentage of their income in taxes.

The Federal Income Tax Is an Example of ____________, While