A proportional income tax is defined as a tax for which
A) total taxes paid increase with the level of income.
B) total taxes paid are independent of the level of income.
C) the average tax rate increases with the level of income.
D) the average tax rate is the same at all levels of income.
D
You might also like to view...
In the very long run, theoretically there will be equilibrium if capital and labor are free to migrate. If and when this ever happens, what will the global economy experience?
a. an equality of wages and marginal product b. an equality of returns to the owners of capital c. a fully Paretoefficient world economy with the highest standard of living possible d. an equality of wages and marginal product, an equality of returns to the owners of capital, and a fully Paretoefficient world economy with the highest standard of living possible
If the fraction of U.S. government securities held by foreigners increases, _____
a. current consumption by U.S. citizens can decrease b. current consumption by U.S. citizens can increase c. current interest payments will increase d. private investments will increase e. the burden of debt on future generations will decrease