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A progressive tax is one that varies with a person's ability to pay.
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∙ 9y ago
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A tax that varies with a person's ability to pay is called?
prgressive tax!!
What is an ability to pay?
An ability to pay is an individual's level of wealth or income as a measure of the tax rate they can afford to pay.
Taxes that are based on a person's ability to pay?
Regressive tax.
What is the One of he criteria that makes tax fair?
ability to pay
Does the flat tax depart from the ability to pay priciple of taxation?
Yes it does
A tax that varies with a person's ability to pay is called?
prgressive tax!!
What is tax capacity?
ability to pay tax
What is an ability to pay?
An ability to pay is an individual's level of wealth or income as a measure of the tax rate they can afford to pay.
A tax rate that is closely geared to the ability to pay?
Progressive tax
What is taxing someone to their ability to pay?
A Progressive tax.
A basic feature of a progressive tax is that it takes into account the?
Ability of people to pay the tax.
Taxes that are based on a person's ability to pay?
Regressive tax.
What is the One of he criteria that makes tax fair?
ability to pay
Do visitors have to pay sales tax in US?
Yes, anything you buy, even with cash you have to pay sales tax. The amount varies depending on the state.
Does the flat tax depart from the ability to pay priciple of taxation?
Yes it does
What are some advantages and disadvantages of a Progressive tax?
Advantage: Progressive taxes attempt to reduce the tax incidence of people with a lower ability-to-pay, as they shift the incidence increasingly to those with a higher ability-to-pay
Who pays the most income tax in the United States?
Persons earning $389 thousand and over pay 39.89 % of income tax. Top 1%. Persons earning $154 thousand and over pay 60.14 % of income tax. Top 5%. Persons earning $109 thousand and over pay 70.79 % of income tax. Top 10%. Persons earning $ 65 thousand and over pay 86.27 % of income tax. Top 25%. Persons earning $ 32 thousand and over pay 97.01 % of income tax. Top 50%. Persons earning less than $ 32 thousand pay 2.99 % of income tax. Bottom 50%. These figures are for federal income taxes only. They do not include payroll taxes which account for ~40% of federal revenue. (pre the Heritage Foundation) - "Workers with pre-OASDI incomes from $17,813 to $27,732 have the highest average effective Social Security tax rate (10.3 percent). 11 Workers in the highest income group have the lowest tax rate (6.7 percent)."
