Asked by Alana Child on Jul 29, 2024
Verified
Which type of tax rate structure is each of the following types of tax: sales,federal income,social security,flat,Medicare?
Tax Rate Structure
The specific system or method of imposing taxes at different rates on different levels of income or types of transactions.
- Elucidate primary concepts in taxation, such as proportional and regressive tax models, and distinguish between marginal and average tax rates.
Verified Answer
JG
Ju'lea GecheJul 29, 2024
Final Answer :
Sales tax is proportional,federal income tax is progressive,social security is regressive,flat tax is proportional,Medicare tax is proportional.
Learning Objectives
- Elucidate primary concepts in taxation, such as proportional and regressive tax models, and distinguish between marginal and average tax rates.