Multiple Choice
Which of the following examples illustrates a regressive income tax?
A) I earn $500 and pay $50 in taxes; you earn $1,000 and pay $90 in taxes.
B) I earn $500 and pay $50 in taxes; you earn $1,000 and pay $100 in taxes.
C) I earn $500 and pay $50 in taxes; you earn $1,000 and pay $110 in taxes.
D) I earn $500 and pay $50 in taxes; you earn $1,000 and pay $125 in taxes.
Correct Answer:
Verified
Correct Answer:
Verified
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