Regressive tax. E.g. value added tax
Regressive.^_^=
A flat tax.
That is called a flat tax system.
National Income is essentially what a country produces in a given year. It takes into account the value of all the goods and services in an economy. The term is interchangeable with GDP or GNP (2 slightly different concepts)
the income effect is the increase in real income you get from a drop in prices, the real income increases because you can buy more goods with the same amount of income. This is different from the substitution effect which shows this effect by you buying more of the good because it is relatively cheaper than another good, so you are substituting the expensive good in favor of the cheaper one.
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.
Regressive
Regressive.^_^=
Probably a regressive tax, but also unfair, immoral, and probably Republican written.
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.
Income Tax
a tax system that takes a larger proportion of income from high-income people than from low-income people
Fair tax
A flat tax.
This depends where you are comparing it to and the percentage of your income it takes to buy an item.
Yes. It takes an equal percentage from everyone's income regardless of wealth.
That is called a flat tax system.