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Under which tax system do poor people pay a larger proportion of income than wealthier people?
Wiki User
∙ 13y ago
Regressive tax
Wiki User
∙ 13y ago
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What was uneven distribution of wealth during the 1920s?
The wealthier people got taxed less than the poorer people in hopes that they will spend more money.
Which is the fastest growing sector of the UK economy at the moment and why?
In fact there are three main types of sectors in the UK:1. The primary sector (raw materialism)2. The secondary sector > aka. the manufacturing sector (turns raw materials from the primary sector into goods)3. Tertiary sector > aka the service sector (producing services > for example education)According to recent figures + the fact you can see in daily life in the UK it is said that the 3rd sector is the fastest growing sector of the UK economy. But still the question remains of why?With rising incomes, consumers spend a larger and larger proportion of their incomes on services such as health, education and financial services.So we can conclude that it is all about the income people get and that they spend a larger proportion each time on the big subgroups in the service sector.
Where does the greatest proportion of money used for government spending come from?
from the people
Why per capita income is not a better tool to measure the welfare of the people?
Because of the distribution of the income Economy A 2 people income of person 1 = 1000 income of person 2 = 0 Per capita income is 500 Economy B 2 people income of person 1 = 500 income of person 2 = 500 Per capita income is 500
What type of tax is one that takes a smaller percentage of income from high income people than from low income people?
Regressive.^_^=
Is the best definition of a progressive tax system?
a tax system that takes a larger proportion of income from high-income people than from low-income people
What is the best definition of a progressive tax system?
a tax system that takes a larger proportion of income from high-income people than from low-income people
discribe Engel's law of consumption?
playwrights
What is a progressive tax system?
a tax system that takes a larger proportion of income from high income people than from low income people
Is one million dollars a lot?
No, not very much regardless of your income. The average American will spend about 1 million dollars in their lifetime. Wealthier people will spend more.
Where people with lower incomes pay a larger portion of their income?
regressive tax
Describe the difference between a regressive tax system and a progressive tax system and the state the principle that supports each one?
A Regresssive tax system is when a larger percantage frome the income from low-income people than the income of high-income people
What is engels law of consumption?
Engel's Law of Consumption states that as income increases, the proportion of income spent on food and other necessities decreases, while the proportion spent on luxury goods and services increases. This law suggests that as people's income rises, their spending priorities shift from basic necessities to more discretionary items.
Why would reducing taxes help during a recession?
Reducing taxes means people will have more money, and therefore a larger disposable income. If you were to have a larger disposable income your more lkely to buy luxuries consequently putting money in the economy
Which people had the most power in the Sumerian city-states?
The wealthier landowners.
What proportion of people in Finland work in primary industries?
people what work proportion? industries primary in of finland
Where do wealthy men usually hang out?
There is no defined place where wealthy men hang out, however there are some places that are more likely to contain wealthier people. Country houses and neighborhoods with more expensive housing typically have people with wealthier incomes.
