Match the descriptions below to their correct answers by choosing an answer from the drop-down menu. Continue to Part 2 or, to assess your answers, click on the Check My Answers button at the bottom of the page.
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Indicate whether each of the statements below is True or False by clicking the correct answer. Continue to Part 3 or, to assess your answers, click the Check My Answers button at the bottom of the page.
- A progressive tax takes a smaller share of income from low-income groups than from high-income groups.
- Progressive taxes include fixed amounts of tax on each individual or household.
- In the United States, tax rates on income ranged from 10 percent
to 39.6 percent.
- Inheritance taxes tend to be progressive because they take a smaller percentage from larger amounts of inheritance.
- A person's tax bracket depends on that person's earnings.
Answer the following multiple-choice questions by clicking the correct answer. To assess your answers, click the Check My Answers button at the bottom of the page.
- A progressive tax takes the largest percentage of income from which group?
- Which is not an example of a commonly used progressive tax?
- Why do federal income tax rates not go above 40 percent?
- Which of the following is an example of a progressive tax?
- The United States uses a progressive income tax
