This is an example of a progressive tax. Progressive taxes are designed so that individuals with higher incomes pay a higher percentage of their income in taxes compared to those with lower incomes. In this case, those making $100,000 pay a 15% increase in their tax, while those making $250,000 pay a 25% increase, indicating that higher earners are subject to a larger percentage increase in their tax burden.
A new tax is proposed that requires those making $100, 000 a year pay 15% more of their income in taxes and those making $250, 000 a year pay 25% more of their income in taxes. This is an example of (1 point)
Responses
an estate tax
an estate tax
a regressive tax
a regressive tax
a progressive tax
a progressive tax
an excise tax
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