1. 4. Consider the following table, whi shows the total amount of taxes paid at different total...

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1. 4. Consider the following table, whi shows the total amount of taxes paid at different total income levels in a society. For ea income level, calculate the effective tax rate. Is this tax system progressive or regressive? Explain.

Total income Total taxes paid

$200,000

$50,000

$100,000

$22,000

$80,000

$16,000

$50,000

$8,000

$40,000

$4,000

$20,000

$1,000

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Macroeconomics In Context

ISBN: 9781032170374

4th Edition

Authors: Neva Goodwin, Jonathan M. Harris, Julie A. Nelson, Pratistha Joshi Rajkarnikar, Brian Roach, Mariano Torras

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