Which statement about progressive taxes is true?
A.
The rate increases as income increases.
B.
The rate remains the same, even if income increases or decreases.
The rate decreases as income increases.
D.
The rate increases as income decreases.

Question

01-01-2021
Social Studies

Answered

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Which statement about progressive taxes is true?
A.
The rate increases as income increases.
B.
The rate remains the same, even if income increases or decreases.
The rate decreases as income increases.
D.
The rate increases as income decreases.

Sagot :

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andriansp andriansp · Answer 1 · 2021-01-01T22:32:50-05:00

Answer:

A. The rate increases as income decreases.

Explanation:

The main purpose of a progressive taxes is to make people who earn more through their earning to contribute more to the programs/infrastructures that's planned by the government. In order to achieve this, the government impose a higher tax rates for the people in higher income brackets and lower tax rates to the people in lower income brackets.

Almost every nations in the world use progressive taxes.

As an example, here's the income Tax's regulation for the people who live in United States.

10% Tax rate for a single person who earn Up to $9,875

12% Tax rate for a single person who earn $9,876 to $40,125

22% Tax rate for a single person who earn $40,126 to $85,525

24% Tax rate for a single person who earn $85,526 to $163,300

32% Tax rate for a single person who earn $163,301 to $207,350

35% Tax rate for a single person who earn $207,351 to $518,400

37% Tax rate for a single person who earn Over $518,400

Sagot :

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