tax types Flashcards

1
Q

whats progressive tax

A

The marginal rate of tax increases as income rises (income tax)

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2
Q

PROPORTIONAL

A

The marginal rate of tax is the same for everyone

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3
Q

regressive

A

The marginal rate falls as incomes rise

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4
Q

whats an excise duty

A

indirect taxes on the sale or use of specific products

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