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What type of tax is one that takes a smaller percentage of income form high income people?
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Tax that takes a percentage of a person's earnings?
Income Tax
What percentange of your taxes do you lose if you claim a dependent?
Federal taxes are not based on a straight percentage but on a deduction and then a percentage. The percentage is according to income. If you live in a state that already takes out high taxes, then the federal government takes out taxes at an even higher rate.
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
Are most income taxes considered progressive or regressive?
It depends on how the tax is structured. For example many many consider sales or gasoline taxes as regressive, because for low income groups -- it takes a higher percentage of their income to pay it. In the USA our income tax system is progressive, if you make more -- you pay a higher higher tax rate. (%). Please note, this is a simple answer to a complex question.
Why wealthy people oppose income taxes?
People who pay more tax that most will naturally oppose higher taxes. It's not that they oppose paying taxes as a means to operate the government but they see waste in government and don't wish to contribute to this. Less wealthy people oppose sales taxes often times because they see this as a tax that they have to pay. We are almost at a point in the United States where half of the people do not pay any income taxes. This means that instead of everyone paying their fair share of the costs of government, half of the people pay nothing towards their fair share. Certain politicians have used this as a platform to stay in office by pandering to those who pay no taxes by promising more programs and such to benefit the ones who pay nothing. In the United States we have a progressive tax system which means that the higher your income, the higher percentage of your income that the government takes to support programs that don't benefit you. Is this fair. This is the debate.
What type of tax is one that takes a smaller percentage of income from high-income people than from low-income people?
A regressive tax is one that takes a smaller percentage of income from high-income people than from low-income people. In a regressive tax system, as income increases, the percentage of income paid in taxes decreases.
What type of tax is one that takes smaller percentage of income from high income people than low income people?
Regressive
What type of tax is one that takes a smaller percentage of income from high income people than from low income people?
Regressive.^_^=
What type of tax is one that takes a smaller percentage of income people than from low income people?
Regressive tax. E.g. value added tax
What type of tax is one that takes a smaller percent age of income from high-income people than from low-income people?
Probably a regressive tax, but also unfair, immoral, and probably Republican written.
What created the income on tax?
Your question is backwards. There is no income on tax. However, there is a tax on income. This is known as income tax. Income tax is a system created by the government that takes a percentage of your income out of your check based on how much money you earn. Generally speaking, the higher your income, the higher the percentage of it the government takes.
Tax that takes a percentage of a person's earnings?
Income Tax
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
Tax takes the same percentage of income from everyone regardless of their earnings?
Fair tax
What taxes takes the same percentage of income from everyone regardless of their earnings?
A flat tax.
Is food cheap in New York?
This depends where you are comparing it to and the percentage of your income it takes to buy an item.
Is a flat tax propertional tax?
Yes. It takes an equal percentage from everyone's income regardless of wealth.
