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Economics
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Period 5
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Which of the following taxes is considered regressive?
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Sales tax
Personal income tax
Corporation income tax
Federal estate tax
Inheritance taxes
When people pay at a higher tax rate as their income levels rise, it is described as a
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Proportional income
Progressive income
Regressive income tax
Alternative minimum tax
The income tax in Anoka is a flat tax that requires everyone pay 10% of their income to the government no matter what their level of income. This tax is
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efficient
proportional
regressive
progressive
The purpose of the Lorenz Curve is to show
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That there are many people that are on welfare and foods stamps
That Unemployment is increasing
Comparisons of equal distribution to the actual distribution of wealth in America
That taxes cannot help solve the redistribution of wealth.
That race plays a major factor in the distribution of wealth.
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