Suppose an income tax is levied on none of the first $1,000,10% of the next $10,000,and 20% of the remainder of earnings.This type of tax can be defined as:

A) progressive.
B) proportional.
C) regressive.
D) equitable.

Question

Jessie Marie · Accepted Answer

Final Answer : A, Explanation :  This is a progressive tax because the tax rate increases as income increases. The more someone earns, the higher percentage of their income they will pay in taxes.

Suppose an income tax is levied on none of the first $1,000,10% of the next $10,000,and 20% of the remainder of earnings.This type of tax can be defined as:

A) progressive.
B) proportional.
C) regressive.
D) equitable.

Definitions

Learning Objectives

Learning Objectives

Related questions

Suppose an income tax is levied on none of the first $1,000,10% of the next $10,000,and 20% of the remainder of earnings.This type of tax can be defined as:A) progressive.B) proportional.C) regressive.D) equitable.

Definitions

Learning Objectives

Learning Objectives

Related questions

Suppose an income tax is levied on none of the first $1,000,10% of the next $10,000,and 20% of the remainder of earnings.This type of tax can be defined as:

A) progressive.
B) proportional.
C) regressive.
D) equitable.