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What type of tax is one that takes a smaller percentage of income people than from low income people?
Wiki User
∙ 13y ago
Regressive tax. E.g. value added tax
Wiki User
∙ 13y ago
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What type of tax is one that takes a smaller percentage of income from high income people than from low income people?
Regressive.^_^=
What taxes takes the same percentage of income from everyone regardless of their earnings?
A flat tax.
What tax takes the same percentage of income from everyone regardless of their earnings?
That is called a flat tax system.
What are the components of national income?
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)
How does the income effect explain the change in quantity demanded that takes place when the price goes down?
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.
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 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.
What tax takes the same percentage of income from everyone regardless of their earnings?
That is called a flat tax system.
