0
When a tax takes a larger percentage on income from a-low income earners than from high income earners it is called?
Wiki User
∙ 9y ago
What we have in the United States is a Progressive tax system where the higher your income the higher the percentage of income tax you pay. I guess the other way around would be a regressive tax system. The United States is approaching a very dangerous point. It is getting closer and closer to a point where over half of the people in the Country pay no income taxes at all. When you get to this point, the majority of voters would not care what the taxes were at all so they could vote to take more and more from those who build your economy and who provide jobs. This would take away all incentive to produce and provide an economy.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
A regressive tax means that a larger percentage of taxable income is taken in taxes and taxable income decreases.?
false
A regressive tax means that a larger percentage of taxable income is taken in taxes and taxable income decreases?
false
Do Saudi Arabia have equal distribution of income?
No, Saudi Arabia does not have equal distribution of income. There is a significant income inequality in the country, with a small percentage of the population holding a large share of the wealth while a larger portion of the population faces financial challenges.
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
If I divide a smaller number by a larger number will this indicate the percentage that the larger number is over the smaller number?
No, that will indicate the percentage the smaller number is of the larger number.
Obligation of a parent of a minor child regarding support?
Depending on the placement of the child(ren), it's all a percentage of each parent's income. The parent who makes more will be required to provide a larger percentage of the child's support. It's calculated by the state. They have a form to calculate the amount based on each parent's income and expenses. It's a standard (not usually negotiable) calculation.
What is a smaller map inside a larger map called?
a mini map but if u dont beleive me a penis is a percentage of gods eyebrow
discribe Engel's law of consumption?
playwrights
Distinguish between proportional tax and progressive tax?
A proportional tax takes the same percentage of income no matter your income level. A progressive tax, on the other hand, takes a larger percentage of income as your income increases. An example of a proportional tax is the Medicare tax (everyone pays 1.45% of all income), while the U.S. income tax is an example of a progressive tax (higher incomes get bumped into higher tax brackets). Many people believe sales taxes to be proportional because everyone pays the same rate, but because sales taxes only apply to spending rather than overall income they almost always turn out to be regressive.
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
What percentage of women have one breast larger than the other one?
Indeed the percentage is small.
Is it possible to file an amended tax return in Switzerland if you reported expected income larger than actual income?
yes
