Question

Albert earns $100,000 per year, and his wife earns $30,000 per year. Albert pays 30% in income tax while his wife pays 15% in income tax. This concept is known as a

Answer 1

Answer: Progressive tax rate

Explanation:

It is a progressive tax concept which is referring to a tax where the rate increases along with increase of amount. This is a concept when tax rate has the ability to progress from low amount to high amount. The wealthy people can get more higher rate than people who are don't having money so the poor families are spending those incomes often on basic things that they need for living. Because of that they can't afford some sort of decent or bigger standard.