Suppose the tax rate structure is such that a household with an annual taxable income of less than $15,000 pays 10 percent income taxes; a household with annual taxable income of $15,001 to $30,000 pays 20 percent; and a household with annual taxable income of $30,001 to $60,000 pays 30 percent in income taxes. What type of tax does this exemplify?

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This tax structure exemplifies a progressive tax system Heres why Tax rate increases with income Hou... View the full answer