Consider a world with three income earners.Individual A earns $20,000 and pays $1,000 in taxes.Individual B earns $50,000 and pays $5,000 in taxes.Individual C earns $100,000 and pays $2,000 in taxes.Which of the following best classifies the income tax system in this world?
A) proportional
B) progressive
C) regressive
D) none of the above
Correct Answer:
Verified
Q19: A tax that takes a smaller percentage
Q20: A tax that that takes the same
Q21: The concept of progressive,proportional,and regressive taxation is
Q22: Taxes on beer are progressive if considered
Q23: A major tax overhaul is more likely
Q25: Equity issues in taxation are inherently positive
Q26: In evaluating tax policy it is important
Q27: In practice,it is difficult to integrate the
Q28: Political considerations are unimportant to an understanding
Q29: Since there are many special interests lobbying
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