Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Our federal income tax system requires that someone who has $20,000 in taxable income will pay $3,000 in income taxes and someone who has $50,000

Our federal income tax system requires that someone who has $20,000 in taxable income will pay $3,000 in income taxes and someone who has $50,000 in taxable income will pay over $8,000 in income taxes. This means that the federal income tax is what kind of tax?

1) benefits-received principle

2) ability-to-pay principle

3) progressive

4) regressive

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Leading Strategic Change In An Era Of Healthcare Transformation

Authors: Jim Austin ,Judith Bentkover ,Laurence Chait

1st Edition

3319808826, 978-3319808826

Students also viewed these Economics questions

Question

Describe the primary concerns and hopes of ecopsychologists.

Answered: 1 week ago