Asked by Abigail Kooiker on Jul 17, 2024
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Answer the question on the basis of the following data: Taxable Income Total Tax $1,000$02,0001003,0003004,0006005,0001,0006,0001,500\begin{array} { c c } \text { Taxable Income } & \text { Total Tax } \\\hline\$ 1,000 & \$ 0 \\2,000 & 100 \\3,000 & 300 \\4,000 & 600 \\5,000 & 1,000 \\6,000 & 1,500\end{array} Taxable Income $1,0002,0003,0004,0005,0006,000 Total Tax $01003006001,0001,500 The tax represented is:
A) optimal.
B) proportional.
C) regressive.
D) progressive.
Progressive Tax
A taxation system where the tax rate increases as the taxable amount increases, typically structured to impose a heavier tax burden on higher-income earners.
Taxable Income
The portion of income that is subject to taxation after all allowances, deductions, and exemptions are factored in.
Total Tax
The sum of all the taxes levied by different levels of government on an individual or business.
- Evaluate the construction and effects of the federal personal income tax arrangement.
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Learning Objectives
- Evaluate the construction and effects of the federal personal income tax arrangement.
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