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irina1246 [14]
3 years ago
6

Consider the following data that describe the relationship between income and a tax. Income Taxes $20,000 $3,400 16,000 3,000 12

,000 2,400 8,000 1,600 4,000 800 The tax may be best described as________
Business
2 answers:
Charra [1.4K]3 years ago
7 0

Answer:

Consider the following data that describe the relationship between income and a tax.

Income    Taxes :

$20,000    $3,400;

$16,000     $3,000;

$12,000     $2,400;

$8,000     $1,600

$4,000      $800

The tax may be best described as________

<em>Progressive income tax system</em>

Explanation:

This system of tax is the progressive income tax system where bigger income attracts bigger tax, also smaller income attracts smaller tax, from the illustration a person earning $20,000 pays a tax $3,400 as opposed to the person that earns $4,000 who pays a tax of $800.

The progressive income tax system is a system of tax in which the bigger earners pay more taxes to the government more than the people earning less. <em>This system of tax is aimed at making sure that the gap between the low, middle and high-income earners are minimized.</em>

pav-90 [236]3 years ago
3 0

Answer: Proportional at lower income levels and regressive at higher income levels.

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Answer:

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Explanation:

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3 years ago
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aalyn [17]

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A local finance company quotes an interest rate of 18.7 percent on one-year loans. So, if you borrow $42,000, the interest for t
Ray Of Light [21]

Answer:

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Explanation:

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Answer:

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ANTONII [103]

Answer:

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