Question

Which of the following is an example of a wealth tax? a. income tax b. excise tax c. estate tax d. sales tax

Answer 1

Income tax. it taxes you on how much you earn.
In the UK:
     RATE                          TAX
Personal Allowance  Up to £11,500 0%
Basic rate                  £11,501 to £45,000 20%
Higher rate                £45,001 to £150,000 40%
Additional rate          over £150,000 45%

Answer 2

Answer:

On e2020 it is actually estate tax. The other person made me get it wrong. So it told me the answer. And it is estate tax.