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

Q: Explain marginal tax rate.

A: 1-The marginal tax rate is the additional/extra tax rate paid for every additional/extra income…

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: 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: State tax rates can be progressive but not flat.   True or false

A: Tax in economics is a compulsory financial charge levied by a government on individuals, businesses,…

Q: The personal income and payroll taxes are already too high. I think business should share A larger…

A: Big firms or corporates are powerful players in the market that tends to affect the market prices in…

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: What are the effects of a tax cut on consumption and savings in the presence of credit market…

A: Ricardian equivalence claims that the consequences on the national economy of funding government…

Q: According to the textbook, which of the following statements is (are) correct? (x)  Taxes on…

A: Tax revenues are collected by the government to undertake government activities such as…

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: The tax system is used to reduce income inequality through the use of taxes. Select one: a.…

A: Tax is the amount that is charged by the government from an individual or an organization on their…

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: 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: he U.S tax system a progressive income tax. What is a progressive tax

A: Revenues are required to smoothly run the government. Government earn major parts of the revenue…

Q: The base Medicare payroll tax (currently 1.45%) is an example of a _______________ income tax. A.…

A: Proportional tax:  The tax system that takes the same percentage of income from individuals,…

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: What are the strategies that our goverment might consider to improve public safety

A: Public safety ensures that all community members decide how to organise a social environment that…

Q: Graph two different approaches to government as a function of tax rates.

A: There are different approaches why tax is levy . .1. Distributive function :: for allocation of…

Q: What is a progressive income tax?

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: progressive income tax has a greater deadweight loss compared to a proportional incone tax ?…

A: Progressive income tax is a situation when the level of taxes increases with the increase in income…

Q: Write a paragraph that explains how the U.S. tax system has become less progressive since the 1950s.

A: In the last 50 years, the federal tax system of the US has undergone 3 main and powerful changes.…

Q: Which tax is the largest source of tax revenue in the United States? personal income taxes…

A: The largest source of the tax revenue of the United States government has individual tax been since…

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: What effect does implementing a progressive tax system have on income inequality in a country? A. It…

A: A progressive tax system is one in which the tax rate increases as the taxable amount increases. It…

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: The U.S. federal income tax is an example of a _______________ income tax. a. regressive  b.…

A: Income tax is a tax that is charged on the income of individuals, businesses, and other entities.…

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: Explain the types of tax liability in the Turkish Tax System by giving examples

A: The Turkish tax system is a vital component of the economy, and it is divided into three major…

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: 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: suppose Lena makes $50000 per year and Mariah makes $65000 per year. If each pays $5000 in taxes:…

A: - Proportional: Everyone pays the same percentage of their income in taxes.- Progressive:…

Q: Describe Progressive taxation. And Regressive taxation

A: Taxation is the process by which a government or other authority collects money from individuals and…

Q: A progressive tax system is one in which the average tax rate increases as income increases. Don't…

A: Taxation is the cycle by which a government or other taxing power powers a financial charge or duty…

Q: Income tax is a type of ________ tax. Regressive Progressive

A: A tax called an income tax is imposed on a person's income, which includes earnings, salaries,…

Q: Describe the progressive and proportional forms of taxation. What goal might the government be…

A: Taxation is the process through which the government levies and collects taxes from people,…

Q: What determines whether the buyer or seller pays the bulk of the tax?

A: The incidence of tax depends on the relative price elasticity of demand and supply.

Q: progressive tax system tax rate rise with rise in income True/False

A: Answer. Introduction  Progressive tax  A progressive tax is based upon the taxpayer's ability to…

Q: Which taxation system is best and which is the worst?

A: There are three types of tax systems 1. Progressive 2. Proportional 3. Regressive

Q: Explain how proportional income tax would increase hours of labour supplied

A: A tax is a mandatory fee paid by the residents of a country to the government. These are levied to…

Q: Justify the statement. True/False Indirect taxes are paid directly by people to the…

A: Indirect tax is a type of tax that is imposed by the government on goods and services, rather than…

Q: Is a tax that charges $100 to every citizen for garbage collection regressive, proportional, or…

A: Progressive tax is a tax that takes a larger percentage of income from high-income groups than from…