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Kody Nienow

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Q: A regressive tax means that a larger percentage of taxable income is taken in taxes and taxable income decreases.?
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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 large percentage of taxable income is taken in taxes and taxable income decreased?

False


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 of tax is sales tax?

It depends how you look at it.I believe its considered regressive based on income... Assume everyone spends the same amount of money on taxable goods... A poor person would pay a higher percentage of their income in taxes.It's proportional based on expenditures, but regressive compared to income levels.


What is the difference between a progressive tax and regressive tax?

A progressive tax is defined as a tax whose rate increases as the payer's income increases. That is, individuals who earn high incomes have a greater proportion of their incomes taken to pay the tax.A regressive tax, on the other hand, is one whose rate increases as the payer's income decreases.


What is sales taxes because of high-income people pay a smaller percentage of their income?

Regressive.


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 take a 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.^_^=


Describe the classification of taxes?

Taxes are classified as proportional, progressive or regressive. ÊProportional tax requires individuals to pay a fixed percentage of income no matter their level of income.ÊProgressive tax is one that increases with an increase in income, whereasÊregressive tax decreases asÊthe amount Êbeing taxed increases.


What is a progressive tax strategy?

it is tha strategy that governs tax increases proportionally with taxable income. the higher your taxable income the higher tax percentage you will pay.


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