A regressive tax is a tax for which people with lower incomes Group of answer choices pay a lower percentage of their incomes in tax than do people with higher incomes. pay a higher percentage of their incomes in tax than do people with higher incomes. pay the same percentage of their incomes in tax as do people with higher incomes. do not have to pay unless their incomes exceeds a certain amount.

Q: Match the term with the definition: [?] is the rate you pay on the last dollars you earned…

A: Marginal value is the value from the last unit.    Average value is the value per unit.

Q: Tax incidence is the division of the burden of a tax between the A. society; seller B. buyer; seller…

A: Tax is a compulsory payment made by the individual, or company to the government as revenue to carry…

Q: pay Based on your yearly income above, calculate the amount of tax each income bracket would under a…

A: A progressive tax refers to the tax rate which increases (or progresses) with the increase in…

Q: Question 48 of 50. Choose the response that completes the following sentence. A taxpayer may claim…

A:

Q: Suppose you earned $60,000 per year and pay taxes based on marginal tax rates. The first tax bracket…

A: To calculate the total taxes paid, we need to determine the amount of income that falls into each…

Q: Describe the advantages that a negative income tax has over other programs that have the same…

A: Negative income tax is reverse of income tax. Under the income tax a fraction of amount earned by…

Q: Giving reasons classify the following into direct and indirect tax (1) Wealth tax (2) Value…

A: # Taxes can be broadly classified into two segments which are direct tax and indirect tax. as the…

Q: katie earns $40,000 and pays $4,500 in taxes and Samantha earns $80,000 and pays $9,000 in taxes,…

A: Taxes are the share of income which is charged by the government.

Q: A payroll tax is a   tax that each firm must pay to the government before the firm can hire workers…

A: In the labor(L) market individuals sell their labor(L) or work to employers in exchange for…

Q: States with a corporate income tax are at risk O a) of being found in violation of federal law O b)…

A: Corporate Income tax A corporate tax is basically a type of tax that is imposed on a company's…

Q: Government spending is divided into all of the following categories, except: A) welfare spending B)…

A: Government spending or expenditure includes all government consumption, investment, and transfer…

Q: Because of the sales tax in a particular region, a customer in a supermarket must pay $1.46 for a…

A: Answer: Effective tax rate is the average tax rate that is paid by a corporation or an individual.

Q: Income before tax (dollars) 0 20,000 40,000 60,000 80,000 Tax plan A (dollars) 0 2,000 5,000 10,000…

A: In a progressive tax structure is a tax structure in which the tax burden increases as taxable…

Q: Which of the following is not a form of government revenue? a) b) Excise duties Relief grunts given…

A: The correct answer is: Option (b) Relief grants given to the poorRelief grants given to the poor are…

Q: Revenue from tax is always greater than government spending in SouthAfrica;

A: A tax is a compulsory financial charge being imposed upon a taxpayer by a governmental organization…

Q: Calculate net indirect taxes if indirect taxes is $30 million and the subsidies are $16 million

A: The given information is as follows:- Indirect taxes = $30 million Subsidies = $16 million We have…

Q: kshay is single and lives in Thunder Bay. Akshay earned $60,000 in 2013. The following table shows…

A: The marginal rate is that the rate on the last greenback of financial gain obtained. this can be…

Q: Discretionary government spending includes payments made for unemployment compensation. the…

A: Discretionary spending is the amount that the government decides to spend for the upcoming fiscal…

Q: When the income tax was first proposed in 1894, it was ruled unconstitutional? True or false

A: The tax is a unilateral payment made by the people towards the government for various purposes such…

Q: Percent of Income Paid in Total amount Income Tax of Tax Paid Family $10,000 20% $2,000 A Family…

A: Here, there are three families having different income levels and paying the same tax rate. A income…

Q: A tax whose burden cannot be shifted in someone else is known as _______

A: # Taxes are of two types:- (1) Direct tax (2) Indirect tax This is based on whether the burden of…

Q: The Federal Government brings in revenue through taxation in all of the following forms EXCEPT:   A.…

A: The federal government does not primarily depend on sales and property taxes to generate sales.…

Q: At the state and local levels in the United States, the largest source of tax revenue is   Group of…

A: At the state and local levels in the United States, the government collects tax revenues from the…

Q: Tax rate rise when the income of the consumer rise in case of progressive tax system.  True/False

A: We have different types of tax system depending upon how the tax rate behaves with change in income.…

Q: If a family earns $7,500 and the poverty threshold for the family is $15,000, its income deficit is:…

A: The income deficit is the difference between the poverty threshold and family income. Formula:Income…

Q: The social security tax is 6.2% on employees’ income earned below $113,000. Is this tax progressive,…

A: -Progressive tax is the rate of tax which increases with the rise in income that is to be taxed so…

Q: Complete the following table by calculating the negative tax and total after-tax income for each…

A: It can be defined as a policy of the government in which Any individual or family in the economy has…

Q: Tax to GDP ratio is a useful index in showing how effective the government is in collecting taxes…

A: Tax is the compulsory payment or a financial charge imposed by government that contributes to the…

Q: Which of the following is an indirect tax? 1. Capital Gains Tax 2. Excise Duty 3. Wealth Tax 4.…

A: A direct tax is one that is paid directly to the institution that imposed it. Individual taxpayers,…

Q: A regressive tax A. ​imposes a greater burden on those with higher incomes than on those with lower…

A: A regressive tax is the tax based on income.  The regressive tax is inversely proportional to…

Q: Where does the federal government obtain almost all of their revenue?     foreign governments…

A: Government revenue is the income available to fund the activities of a government. Government can…

Q: Impact of higher taxes on labor income from now to next 5 years.

A: The amount that used persons build by operating is remarked as labour financial gain. This notion is…

Q: Calculate the effective tax rate (in percent) of people who eam an annual income of P250,000.…

A: Taxes are necessary contributions that a government entity, whether local, regional, or national,…

Q: Consider a government that raises taxes by $150. The average citizen there spends 90% of each…

A: Here, the marginal propensity to consume is given as 90% (0.9), which implies that an average…

Q: There is an _________ relationship between tax rate and supply of a good

A: The tax imposed by the government and the subsidy lend by the government all impacts the cost of…

Q: If a government simplified its tax system the likeliest result would be Group of answer choices a…

A: A government imposes a tax on market participants as a charge of using public services or as a…

Q: Which of the following is true?* Donations to any person is exempt if the amount of donation…

A: Donations are a sort of charity that is given by an individual to some other person or an…

Q: Social security benefits have exceeded/will exceed payroll taxes starting in O 2030. O 2020. 2010.…

A: The Social Security benefits are funded through payroll taxes. The employers and their workers will…

Q: A tax whose impact varies inversely with the income of the person taxed, and poor people have a…

A: In the case of the regressive tax rate, the greater burden of tax is imposed on the poorer people…

Q: Social Security is a 6.2 % tax income up to a level that is matched by one’s employer?

A: Social Security is a social insurance program in the United States that provides retirement,…

Q: Differentiate Tax from Taxation

A: Taxes are of two types: direct and indirect taxes.

Q: Discuss the key tenets of the U.S. personal income tax code. For example, our tax rates are…

A: A tax code is indeed a federal govt document that describes the rules that people and organizations…

Q: With a progressive tax, those with income tend to pay a

A: A Tax System in which there is an increase in the tax rate as the taxable income increases is known…