In the US there are several regressive taxes for which the poorer people pay a larger portion of their income and are hit harder than the richer people. A tax that takes a larger share of the income of high-income taxpayers than of low-income taxpayers. Updated 12/17/2015 8:34:37 AM. B. Worrying about the regressive nature of just that one part of the taxation system that is regressive seems a little trivial compared to that really. Regressive tax. To pay for goods in the present for deliver in the future. Which of the following best describes a regressive tax? A. A) A tax that takes a higher percentage of income as income rises. The progressive tax is a taxation mechanism whereby the tax rate increases as the taxable amount increases. User: Which of these best describes income tax? What describes a regressive tax? SSEPF4 DOK1. A proportional tax. SURVEY . In reality, however, such a tax causes lower-income groups to pay a greater proportion of their income than higher-income groups pay. The MORE You Make The HIGHER PERCENT You Pay C. The study describes the states in this category as places "with upside-down tax systems that ask the most of those with the least. a) Progressive taxation combined with progressive expenditure. Asked 12/16/2015 10:45:19 AM. C. A tax that takes a higher percentage of income as … A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. Some federal taxes are regressive, as they make up a larger percentage of income for lower-income than for higher-income households. Expert answered|R@st@f@r_m@n|Points 2066| Log in for more information. Which sentence best describes a regressive tax? Which of the following best describes a regressive tax? As income increases, the proportion of your income paid in tax falls. An Individual consumes good X1 and X2. The MORE You Make The HIGHER PERCENT You Pay C. The More You Make The Higher AMOUNT You Pay 2- What Statement BEST Describes REGRESSIVE TAXES? By contrast, excise taxes are regressive, as are payroll taxes for … The regressive tax is a tax system in which the rate of tax decreases as the amount subject to tax increases. Which of the following best describes a regressive tax? Explanation- This describes a regressive tax in best manner because a fixed percentage puts a more burden on poor families. Regressive taxes place a higher burden on wealthy tax payers compared to people who earn less. A redistribution of income tax can be best brought through. A regressive tax is a tax which takes a higher percentage of tax revenue from those on low incomes. The individual and corporate income taxes and the estate tax are all progressive. A tax that takes a larger share of the income of high-income taxpayers than of low-income taxpayers. “Regressive” describes a distribution effect on income or expenditure, referring to the way the rate progresses from high to low, where the average tax rate exceeds the marginal tax rate. Pioneers who journeyed to the west moved quickly through mountain passes to avoid traveling through rainstorms, which made trails slick and wet. A regressive tax is a tax applied uniformly, ... Estonia has the world's best tax system – no corporate income tax, no capital tax, no property transfer taxes. "Regressive" describes a distribution effect on income or expenditure, referring to the way the rate progresses from high to low, so that the average tax rate exceeds the marginal tax rate. A. Answer Trivia - VivaQuestionsBuzz is an instant answer provider. A tax that takes a larger share of the income of high-income taxpayers than of low-income taxpayers. A proportional tax is one that imposes the same relative burden on all taxpayers—i.e., where tax liability and income grow in equal proportion. Proportional, progressive, and regressive taxes. It's done to help lower-income families pay for basics like shelter, food, and transportation. Although heavily romanticized today, Athens did operate under a system of democracy and was the home of many influential scholars in Western thought such as Aristotle, Socrates, and Plato. 3. Question. A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. A regressive tax may seem to be an equitable form of taxation because everyone, regardless of income level, pays the same fixed amount. Let W be the wealth of the individual and P1>0, P2>0 be the prices of the goods. Question: 1- What Statement BEST Describes FLAT TAXES? Regressive taxes have a greater impact on lower-income individuals than the wealthy. Taxes can be distinguished by the effect they have on the distribution of income and wealth. Which sentence best describes the types of skills and personal qualities needed in the workplace? Both persons were required to pay a special tax of $350. For the sixth year in a row, Estonia has the best tax code in the OECD, according to the freshly published Tax … Susan Johnson earned $15,000 last year. C) A tax that takes a fixed percentage of income regardless of the taxpayer's level of income. Regressive taxes place a higher burden on people who earn less compared to wealthier tax payers. b) Progressive taxation combined with regressive expenditure. The LESS You Make The HIGHER PERCENT You Pay B. C) A tax that takes a fixed percentage of income regardless of the taxpayer's level of income. regressive tax progressive tax direct tax proportional tax Weegy: The direct tax describes income tax. 30 seconds . It is a tax applied uniformly, taking a larger percentage of income from low-income earners than from high-income earners. A. A regressive tax. Gregory Hanson Date: February 13, 2021 . Tax systems fall into two main categories within the tax code: regressive and progressive taxes. A progressive tax. B) A tax whose rate rises less than in proportion to income. c. regressive taxes result in poor tax … Tags: Question 5 . Explain the main differences between regressive and progressive tax systems. B. We feature Viva, interview and multiple choice questions and answers Engineering, finance and science students.. a. regressive taxes place a higher burden on people who earn less compared to wealthier tax payers. Which of the following best describes “tax expenditure”? A regressive tax is a tax imposed in such a manner that the average tax rate decreases as the amount subject to taxation increases. Regressive taxes prevent tax rates from rising over time. 4 years ago. b. regressive taxes place a higher burden on wealthy tax payers compared to people who earn less. B. Regressive taxes result in poor tax payers paying no taxes. Suppose there is a poll tax of £3,000 (paid regardless of income) In this case, the person earning £10,000 is paying 30% of their income in tax £3,000 The terms that best describe the Greek city-state of Athens would be C. educated and progressive. What term best describes student activity fees, whereby colleges will often charge $100 per year to all students? A. A flat tax or regressive tax decreases their ability to afford a decent standard of living. A tax that takes a fixed percentage of income regardless of the taxpayer’s level of income. A. Which of the following best describes a regressive tax? B) A tax whose rate rises less than in proportion to income. A progressive tax allows them to spend a larger share of their incomes on cost of living expenses. The LESS You Make The HIGHER PERCENT You Pay B. a. progressive tax b. regressive tax A tax that takes a fixed percentage of income regardless of the taxpayer’s level of income. B. Regressive taxes place a higher burden on wealthy tax payers compared to people who earn less. A. Q. Question: Which sentence best describes a regressive tax? answer choices . Which of the following BEST describes consumer credit? Unite Describes The Workplace Parking Levy ‘Regressive’ By theorkneynews on February 20, 2019 • ( 2 Comments ) Unite the union has written to all Council Leaders representing Scotland’s thirty-two local authorities calling on them to rule out implementing the workplace parking levy which they claim is ‘regressive’. A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. Citing the Institute for Fiscal Studies’ description of Wales’s council tax system as “out of date, regressive and distortionary”, Mr Price set out Plaid Cymru’s commitment to making council tax fairer and more progressive, adding that under such proposals 20% of households on the lowest incomes would see savings of at least £200. A) A tax that takes a higher percentage of income as income rises. Sample Exam Questions/Chapter 7 1. A tax that takes a fixed percentage of income regardless of the taxpayer’s level of income. Question: QUESTION 16 Please Review The Following Tax Proposal And Determine Which Of The Following Best Describes T. Tax Proposal Income Tax Payment $25,000$6,250 $50,000 $75,000 $15,000 S100,000$18,000 $11,000 The Proposed Tax Is Progressive The Proposed Tax Is Proportional The Proposed Tax Is Regressive The Proposed Adheres To The Benefits Received Principal. This would fight unemployment.
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