For example, a flat-rate income tax or retail sales tax does . Which best explains how contractionary policies can hamper economic growth? \text { Preferred 5\% stock, \$100 par (30,000 shares authorized; } & \\ Which best describes a regressive tax? As such, most income tax systems employ a progressive schedule that taxes high-income earners at a higher percentage rate than low-income earners, while other types of taxes are uniformly applied. Centers for Disease Control and Prevention. For example, if two families travel to the Grand Canyon National Park and pay a $30 admission fee, the family with the higher income pays a lower percentage of its income to access the park, while the family with the lower-income pays a higher percentage. To reduce pollution, the _____ legislates and enforces regulations that protect the air, water, and land. To assure that at least 60 percent of 25- to 34-year-olds have a postsecondary credential by 2030. Who receives funding from the TEXAS Grants Program? & \$ 20,000 & 5 & \text { DDB } & \$ 24,000 \\ taking tax payments out of an employee's pay before he or she receives it. Cities charge admission to municipal golf courses and tennis facilities. This type of tax has no correlation with an individual's earnings or income level. Form used to file Individual Income Tax Return. "Table 1101. Investopedia does not include all offers available in the marketplace. Which of the following best describes a regressive tax? \end{aligned} Susan Johnson earned $15,000 last year. State Income Tax vs. Federal Income Tax: What's the Difference? A 2021 Gallup Poll found that 44% of those earning less than $40,000 reported they drink, while 62% of those with incomes from $40,000 up to $100,000, and 81% of those with incomes of $100,000 or more, drink. c. An executive order c. the earnings generated by the property. The diagram shows different types of policies. The only progressive consumption taxtaxes that increase based on incomeare those on luxury items, such as fine jewelry, yachts, and private jets.
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which best describes a regressive tax?