Asked by A'Mya Hughes on Sep 29, 2024
Verified
Which of the following is the most progressive tax levied in the United States?
A) Income
B) Social Security
C) Sales
D) Medicare
E) Estate
Progressive Tax
A tax system in which the tax rate increases as the taxable amount increases, often targeting higher incomes with higher tax rates.
- Comprehend the fundamentals of taxation, such as progressive taxation and tax loopholes, along with their effects on socioeconomic dynamics.
Verified Answer
VC
Valentine Colinabout 6 hours ago
Final Answer :
E
Explanation :
Estate taxes in the United States are considered the most progressive because they are levied on the transfer of the estate of a deceased person, typically affecting only the wealthiest individuals. This means that the tax burden falls more heavily on those with greater ability to pay.
Learning Objectives
- Comprehend the fundamentals of taxation, such as progressive taxation and tax loopholes, along with their effects on socioeconomic dynamics.
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