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 ___________.

Question

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 ___________.
A. an excise tax
B. a regressive tax
C. a progressive tax
D. an estate tax

GPT 3.5 · Answer

C. a progressive tax