Asked by
Naomi Belle
on Dec 08, 2024
Verified
________ seem as a group to be mildly regressive and ________ seem as a group to be mildly progressive.
A) Federal taxes; state and local taxes
B) Federal and state taxes; local taxes
C) Local taxes; federal and state taxes
D) State and local taxes; federal taxes
Regressive
In economics, describes a situation or policy that disproportionately affects those with lower incomes or wealth, often referring to certain tax systems.
Progressive
Relates to a context where something increases or develops in stages incrementally.
Federal Taxes
Taxes collected by the federal government, involving income tax, payroll taxes, and various other taxes.
- Understand the characteristics and effects of different types of taxes, including federal, state, local, payroll, and corporate taxes.
Verified Answer
JK
Learning Objectives
- Understand the characteristics and effects of different types of taxes, including federal, state, local, payroll, and corporate taxes.