Which of the following statements is false regarding a progressive income tax system? Choose one: A....
Which of the following statements is false regarding a progressive income tax system? Choose one:
A. People of all income levels pay a fixed percentage of their income in taxes.
B. People with higher levels of income have higher marginal tax rates.
C. A person with higher income pays more in tax dollars than someone with a lower income.
D. A person with higher income pays a higher percentage of his or her income in taxes than someone with a lower income.
Homework Answers
Answer
Option A
A. People of all income levels pay a fixed percentage of their income in taxes.
the fixed tax rate is a flat tax system and a progressive tax system has a higher tax rate for higher income and a regressive tax system has a lower tax rate for higher income.
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