Economic Test 4 Flashcards
1
Q
Proportional taxes
A
takes the same percent from both high and low income tax payers
2
Q
what is an example of proportional taxes?
A
state’s income taxes
3
Q
what is Michigan’s sales tax?
A
6%
4
Q
Regressive taxes?
A
takes a larger share of income from low income payers than from high income payers
5
Q
what are examples of regressive taxes?
A
gas tax or sales tax
6
Q
what are examples of progressive taxes?
A
takes a large share of income from high income payers than of low income payers
7
Q
what are some examples of progressive taxes?
A
, federal income taxes
