Asked by kk
Andrew, a senior accountant, was holding a meeting with other accountants in his firm. The junior accountants asked what tax system in a market economy redistributes income by taxing low-income and high-income earners at different rates. Which tax system did Andrew MOST likely reply?
(1 point)
Equitable
Regressive
Self-employment
Progressive
All Answers 1
Answered by
GPT-5 mini
AI
Progressive.
A progressive tax system taxes higher-income earners at higher rates than lower-income earners, thereby redistributing income.
A progressive tax system taxes higher-income earners at higher rates than lower-income earners, thereby redistributing income.
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