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Naily [24]
2 years ago
7

progressive taxes operate on the assumption that those with _____ can afford to contribute a higher percentage of their income i

n taxes.
Business
2 answers:
vladimir1956 [14]2 years ago
6 0

The principle of progressive taxes is based on the assumption that those with higher incomes can afford to contribute a higher percentage of their incomes in taxes.

The principles for a progressive tax system are:

  • tax paid is based on the taxpayer's ability
  • a lower tax rate is imposed on low-income earners
  • it is not regressive and does not use a flat rate
  • creates tax brackets, grouping taxpayers by income ranges.

Thus, the progressive tax system operates with the assumption that the <em>higher the income, the higher the tax paid.</em>

Learn more: brainly.com/question/23494200

EastWind [94]2 years ago
4 0

Progressive taxes operate on the assumption that those with <u>higher income</u> can afford to contribute a higher percentage of their income in taxes.

Taxation can be defined as the involuntary or compulsory fees that are usually levied on individuals or business entities by the government, so as to generate revenues used in funding public institutions and activities.

Generally, there are three (3) types of taxation used by the government and these are;

1. Regressive taxation

2. Proportional taxation.

3. Progressive taxation.

A progressive taxes involves charging or levying individuals that are having <u>higher incomes</u> a higher percentage of their total income in taxes.

  • For example, Citizen John pays 30% on $60,000 and Citizen Ann pays 14% on $26.000.

Read more: brainly.com/question/16477816

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Answer: Reciprocal Interdependence.

Explanation:

Reciprocal Interdependence is a working situation in which the output of a department of an organization forms the direct input used by another department in the same organization.

In organizations functioning with reciprocal interdependence, the various departments have to form strong interwoven relationship to increase effectiveness and productivity.

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If government purchases increase by $10 billion and the economy's mpc is. 8, the aggregate demand curve will shift _____
Ad libitum [116K]

If government purchases increase by $10 billion and the economy's MPC is. 8, the aggregate demand curve will shift <u>rightward by $50 billion at each price level.</u>

<u />

A series of markets where goods and services are exchanged, facilitated by capital, combine to make an economy. These networks exist at a local, national and global level. Economies can take many exclusive forms, focus on various priorities, and feature distinct levels of government intervention.

Financial issues influence our everyday lives. This consists of problems such as tax and inflation, interest rates and wealth, inequality and emerging markets, and energy and the environment. Economic systems can be categorized into four major types: traditional economies, command economies, mixed economies, and market economies.

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5 0
2 years ago
Which of the following is not a disadvantage to cash advances on a credit card? a. Cash advances are similar to loans in that th
Dominik [7]
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7 0
3 years ago
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Which country has had a higher growth rate than the US over about the last 120 years?
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