Ask Question
13 August, 20:06

The federal personal income tax is an example of what kind of tax?

+4
Answers (1)
  1. 13 August, 21:23
    0
    The federal personal income tax is an example of a progressive tax.

    Explanation:

    A progressive tax is defined as the taxable amount increases when the tax rate increases. The term progressive is known as the increase from low to high. A person's marginal tax is high when compared to the taxpayer's average tax rate. This progressive tax will tend the people who have a lower ability to pay will pay less and who are the higher ability of pay will pay high. To know that clearly, it is the personal income tax. People with lower income will pay less tax and people with higher income will pay high taxes Britain Prime Minister William Pitt the Younger was introduced the first modern income tax.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The federal personal income tax is an example of what kind of tax? ...” in 📘 Social Studies if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers