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.
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