Question

Explain which of the income taxes seems fair to you and why? One paragraph min (5 sentences)

Your choices are

progressive tax: a tax for which the percentage of income paid in taxes increases as income increases
proportional tax: a tax for which the percentage of income paid in taxes remains the same at all income levels
regressive tax: a tax for which the percentage of income paid in taxes decreases as income increases

Answer 1

A tax system that is progressive applies higher tax rates to higher levels of income. For the U.S. the individual income tax has rates that range from 10 percent to 37 percent. This design leads to higher-income individuals paying a larger share of income taxes than lower-income individuals. The three types of taxes are categorized based on how they affect people of different incomes. Progressive taxes are like a down escalator, because the percentage of income you pay toward a tax decreases as your income decreases.

Explanation: Bye have a nice day!