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What taxes do consumers pay a higher tax rate on when their income increases?
Wiki User
∙ 13y ago
Progressive
______________
Income taxes will have a higher rate.
Many other taxes, or more correctly tax benefits, may be limited or eliminated.
Wiki User
∙ 13y ago
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What taxes are higher corporate or income taxes?
income taxes
What happens to a net personal income with the government lowers taxes?
If the government lowers your taxes your NET income increases.
A progressive tax means that as taxable income increases the percentage of income paid on taxes also increases?
True(Kaylop)
A progressive tax means that as taxable income increases the percentage of income paid on taxes also increases.?
True(Kaylop)
What happens to net personal income when the government lowers taxes?
your net income increases, but your income tax decreases
What happens to net personal income when government lowers taxes?
your net income increases, but your income tax decreases
What is impact of taxation?
Taxation reduces discretionary income. With more taxes consumers will purchase less because if they don't they will have to pay more taxes.
What are the requirements to e file your federal income taxes for free?
Your income must be 58000 or less to file your federal income taxes for free. If your income is higher then you cannot file them for free from e-file.
What happens if incomes rise and demand increases?
we would pay a lot of money in income taxes
If the government raises everyone's taxes consumers have less money or income to spend on consumer goods and services.?
true A+
If the government raises everyone's taxes consumers have less money or income to spend on consumer goods and services?
true A+
How is the tax rate on personal income taxes determined?
The more income the person makes the higher rate he or she pays
