Income Amount of tax 10,000 2,000 50,000 10,000 100,000 20,000 Calculate the percentage of income paid in tax. Is this an example of a progressive, regressive or proportional tax? Explain
Income Amount of tax 10,000 2,000 50,000 10,000 100,000 20,000 Calculate the percentage of income paid in tax. Is this an example of a progressive, regressive or proportional tax? Explain
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter30: Government Budgets And Fiscal Policy
Section: Chapter Questions
Problem 7SCQ: The social security tax is 6.2 on employees income earned below 113,000. Is this tax progressive,...
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Income Amount of tax
10,000 2,000
50,000 10,000
100,000 20,000
Calculate the percentage of income paid in tax. Is this an example of a progressive, regressive or proportional tax? Explain
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