Question
Which tax is considered a progressive tax?
A. Property taxes
B. Excise taxes
C. Sales taxes
D. Federal income tax
A. Property taxes
B. Excise taxes
C. Sales taxes
D. Federal income tax
Answers
GPT-4o mini
D. Federal income tax
The federal income tax is considered a progressive tax because it imposes a higher tax rate on individuals with higher incomes, meaning that those who earn more pay a larger percentage of their income in taxes compared to those with lower incomes.
The federal income tax is considered a progressive tax because it imposes a higher tax rate on individuals with higher incomes, meaning that those who earn more pay a larger percentage of their income in taxes compared to those with lower incomes.