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As a teacher, Jonathan earns an annual income of $30,000, while Jose earns an annual income of $400,000 as an investment banker. On the one hand, low-income Jonathan spends all of his income on pure necessities of life and is unable to save. On the other hand, Jose spends $200,000 of his income and saves the balance. Suppose a 10% general sales tax applies to all the expenditures of Jonathan and Jose. We find that Jonathan pays $3000 in sales taxes and Jose pays $20,000 in sales taxes. Which of the following are true of this scenario?

User Onusopus
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Final Answer:

The scenario indicates that the sales tax system is regressive. Even though Jonathan's absolute tax payment is significantly lower at $3,000 compared to Jose's $20,000, the tax burden as a percentage of income is higher for Jonathan, making it regressive.

Step-by-step explanation:

In this scenario, the regressive nature of the sales tax becomes evident when examining the tax burden relative to income. Jonathan, with a lower income of $30,000, pays $3,000 in sales taxes, which is 10% of his income. Meanwhile, Jose, with a higher income of $400,000, pays $20,000 in sales taxes, which is only 5% of his income. The sales tax takes a larger portion of Jonathan's income, indicating that lower-income individuals bear a higher burden compared to higher-income individuals.

Regressivity in taxation refers to a situation where the tax rate decreases as the taxpayer's income increases. In this case, the fixed 10% sales tax imposes a heavier relative burden on the lower-income individual, Jonathan, compared to the higher-income individual, Jose. This can be seen as an inequitable distribution of the tax burden, as the percentage of income paid in taxes decreases with higher income.

Understanding the implications of regressive taxation is crucial for policymakers to ensure fairness in the tax system. While absolute tax amounts may differ, assessing the impact as a percentage of income provides insights into the distributional effects of taxation on individuals with varying income levels.

User Marcatectura
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