Answered: proposed taxes proportional taxes…

Business

Accounting

proposed taxes proportional taxes progressive taxes

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

John Gates made $25,000 last year and paid $2,500 in taxes on this income. Jane Smith made $30,000 last year and paid $2,700 in taxes on this income. What type of tax is the government using?

answers

proposed taxes

proportional taxes

progressive taxes

regressive taxes

not enough information

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