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Laabri

Types of Taxes

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Last updated about 7 years ago
5 Nsɛmmisa
Hyɛ no nsow a efi ɔkyerɛwfo no hɔ:

Follows personal finance domain of GSE. Standard 3

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Asemmisa {{asɛmmisaAhyɛnsode}}
1.

A tax in which all income groups pay the same percentage is known as a

Asemmisa {{asɛmmisaAhyɛnsode}}
2.

Assume that Walt earns $600,000 per year and Sam earns $50,000 per year. Walt pays a higher pecentage of his income in taxes than Sam. What type of tax does this describe?

Asemmisa {{asɛmmisaAhyɛnsode}}
3.

Jared earns $30,000 a year. He pays a higher percentage of his income in taxes than does his brother who earns $300,000 a year. What type of tax is this?

Asemmisa {{asɛmmisaAhyɛnsode}}
4.

Many economists consider increases in sales taxes to be an unfair burden on the poor. Why is this?

Asemmisa {{asɛmmisaAhyɛnsode}}
5.

Assume that the economy enters a recession and property values fall, resulting in lower property tax revenue. Which of the following would directly result from lower property tax revenue?