Asked by
Steven Taylor
on Nov 05, 2024Verified
A ________ income tax means that those with a higher income pay a higher percentage of their income in taxes than low-income people.
A) regressive
B) progressive
C) proportional
D) consumption-based
Progressive Income Tax
A tax system in which the tax rate increases as the taxable amount increases, resulting in higher earners paying a larger percentage of their income in taxes than lower earners.
- Differentiate among various tax system models and their effects on the distribution of income.
Verified Answer
CB
Learning Objectives
- Differentiate among various tax system models and their effects on the distribution of income.