If George earned $50,000 and was taxed $7,500, while Julia earned $80,000 and was taxed $9,000, what type of income tax structure exists
If George earned $50,000 and was taxed $7,500, while Julia earned $80,000 and was taxed $9,000, what type of income tax structure exists in their country?
a) proportional income tax
b) not clear due to missing information
c) progressive income tax
d) regressive income tax
10 views
1 Answers
The correct answer is d) regressive income tax
If George earned $50,000 and was taxed $7,500, while Julia earned $80,000 and was taxed $9,000, the type of income tax structure that exists in their country is REGRESSIVE. The tax rate decreases as the income increases.
10 views
Answered