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Which of the following individual situations often leads to a reduction of both income and wealth? Change of employment Retirement Responsibility for others Investment Accumulation

Which of the following individual situations often leads to a reduction of both income and wealth?

Change of employment

Retirement

Responsibility for others

Investment

Accumulation of assets

If you pay proportionally more taxes due to having more income, then you are paying a

consumption tax.

regressive tax.

progressive tax.

excise tax.

estate tax.

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