ECONOMICS
FISCAL POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Proportional taxes
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A tax with a constant % paid regardless of income
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A tax where the % paid in taxes increases as income increases
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The lower your income the higher % you pay in taxes
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None of the above
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Explanation:
Detailed explanation-1: -Definition: Proportional tax is the taxing mechanism in which the taxing authority charges the same rate of tax from each taxpayer, irrespective of income. This means that lower class, or middle class, or upper class people pay the same amount of tax.
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