208k views
3 votes
What type of tax takes a larger percentage of higher income earners' income and a smaller percentage of the income of those who earn less? A. Regressive tax B. Progressive tax

C. Proportional tax
D. Excise tax

User AndreiC
by
8.0k points

1 Answer

6 votes

Final answer:

A progressive tax takes a larger percentage from higher income earners and a smaller percentage from lower-income earners. This system scales with income, as opposed to regressive or proportional tax systems.

Step-by-step explanation:

The type of tax that takes a larger percentage from higher income earners and a smaller percentage from those who earn less is a progressive tax. This system employs a sliding scale of tax rates, meaning that as a person's income increases, so does the percentage of their income that they owe in taxes. By contrast, in a regressive tax system, lower-income earners may pay a higher proportion of their income compared to high earners, as seen with excise taxes on certain goods like alcohol and tobacco. Whereas a proportional tax, often referred to as a flat tax, applies the same tax rate to all income levels, thereby affecting low-income earners more significantly in terms of their spending power.

User MahdiY
by
6.6k points