A tax in which all income groups pay the same percentage is known as a
Question 2
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?
Question 3
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?
Question 4
4.
Many economists consider increases in sales taxes to be an unfair burden on the poor. Why is this?
Question 5
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?
Question 6
6.
Match the example for each tax below to the type of tax
State sales tax
Federal income tax
FICA taxes
Property tax
Progressive tax
Regressive tax
Sales taxes are not fairly redistributed to programs that help the poor.
There will be cuts to local spending on public safety, roads, and schools.