-Adam,Aaron,and Fatima earn,respectively,$30,000,$50,000 and $100,000 per year.The amount of state income taxes they pay on their income depends on which state they choose to live in.The table above shows how much they would pay in taxes in each state.
a.Is the tax in State A progressive,regressive or proportional?
b.Is the tax in State B progressive,regressive or proportional?
c.Is the tax in State C progressive,regressive or proportional?
Definitions:
Public Goods
Goods that are non-excludable and non-rivalrous, meaning they can be used by everyone and one person’s use does not diminish another's.
Corporate Income Tax
A tax levied on the net income (accounting profit) of corporations.
Product Prices
The amount of money required to purchase a product, influenced by cost of production, supply, demand, and market competition.
Minimum Standard
The lowest level of quality, performance, or subsistence considered acceptable by regulatory bodies or society.
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