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Under a proportional or flat tax O everyone pays the same dollar amount in income taxes O everyone pays the same tax rate O tax rates are assessed at a constant percentage of government spending O an individual's tax is based on his percentage of income versus total national income

Under a proportional or flat tax O everyone pays the same dollar amount in income taxes O everyone pays the same tax rate O tax rates are assessed at a constant percentage of government spending O an individual's tax is based on his percentage of income versus total national income

Principles of Microeconomics (MindTap Course List)
Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Design Of The Tax System
Section: Chapter Questions
Problem 2PA
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Under a proportional or flat tax, X O everyone pays the same dollar amount in income taxes O everyone pays the same tax rate O tax rates are assessed at a constant percentage of government spending O an individual's tax is based on his percentage of income versus total national income Question 4 Which of the following best describes a progressive tax policy? O People with higher incomes will pay more in taxes than people with higher incomes. O People with lower incomes will pay more in taxes than people with higher incomes. O People with higher incomes will pay a higher tax rate than people with lower incomes. O People with lower incomes will pay a higher tax rate than people with higher incomes
Transcribed Image Text:Under a proportional or flat tax, X O everyone pays the same dollar amount in income taxes O everyone pays the same tax rate O tax rates are assessed at a constant percentage of government spending O an individual's tax is based on his percentage of income versus total national income Question 4 Which of the following best describes a progressive tax policy? O People with higher incomes will pay more in taxes than people with higher incomes. O People with lower incomes will pay more in taxes than people with higher incomes. O People with higher incomes will pay a higher tax rate than people with lower incomes. O People with lower incomes will pay a higher tax rate than people with higher incomes
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