Social Security Taxes are a Proportional Tax. A Percentage of a person's income is paid to Social Security, this is half of the total amount paid to them, the Other half of a person's Social Security Tax is paid by the Employer.
Inherently regressive because the burden falls on lower wages.
This is a fixed rate (proportional) tax, not a regressive tax.
progressive shared
A tax that charges more to those with lower incomes
The federal income tax is progressive A tax that charges more for higher incomes
regressive
Regressive
A regressive tax is a rate of tax that falls as the income rises.
No, the state of Mississippi does not tax Social Security benefits at the state level. Therefore, Social Security income is not subject to Mississippi state income tax.
The Social Security tax cap for 2001 was $80,400.
The benefits-received principle justifies a regressive tax.
This question is totally a matter of opinion. Most economists say that a progressive tax structure is the most effective while some others suggest that a proportional is not only better, but also more moral. Almost every economist would agree that a totally regressive tax structure is bad.
regressive tax encourages earning. this is such that as for the case of progressive tax whereby the more you earn, the more taxes you pay in the case of regressive tax, the more you earn the more you get to keep.