What is meant by a progressive tax A regressive tax A proportional tax Comment on the

Chapter 20, Problem 8

(choose chapter or problem)

What is meant by a progressive tax? A regressive tax? A proportional tax? Comment on the progressivity or regressivity of each of the following taxes, indicating in each case where you think the tax incidence lies: (a) the federal personal income tax, (b) a 4 percent state general sales tax, (c) a federal excise tax on automobile tires, (d) a municipal property tax on real estate, (e) the federal corporate income tax, (f) the portion of the payroll tax levied on employers. LO20.6

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