Assume you pay a tax of $12,000 on a taxable income of $60,000. If your taxable income were $70,000, your tax payment would be $10,500. This suggests that the tax is Multiple Choice regressive. progressive. discriminatory. proportional.
Added by Jordi C.
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Tax rate = Tax payment / Taxable income Tax rate = $12,000 / $60,000 Tax rate = 0.20 or 20% Show more…
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