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In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 + 5% of excess over $5,000. You would have paid $370 in taxes. If you made $30,000 in income in 2019, you paid $720 + 5.75% of excess over $17,000. You would have paid $1,476.50 in taxes. What kind of tax is implemented on your income in Virginia? Information from the Virsinia Department of Taxation e O excise O progressive O supply-side regressive

In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 + 5% of excess over $5,000. You would have paid $370 in taxes. If you made $30,000 in income in 2019, you paid $720 + 5.75% of excess over $17,000. You would have paid $1,476.50 in taxes. What kind of tax is implemented on your income in Virginia? Information from the Virsinia Department of Taxation e O excise O progressive O supply-side regressive

Survey Of Economics
Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter16: The Public Sector
Section: Chapter Questions
Problem 9SQP
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In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 + 5% of excess over $5,000. You would have paid $370 in taxes. If you made $30,000 in income in 2019, you paid $720 + 5.75% of excess over $17,000. You would have paid $1,476.50 in taxes. What kind of tax is implemented on your income in Virginia? Information from the Virginia Department of Taxation O excise O progressive O supply-side O regressive
Transcribed Image Text:In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 + 5% of excess over $5,000. You would have paid $370 in taxes. If you made $30,000 in income in 2019, you paid $720 + 5.75% of excess over $17,000. You would have paid $1,476.50 in taxes. What kind of tax is implemented on your income in Virginia? Information from the Virginia Department of Taxation O excise O progressive O supply-side O regressive
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