If government tax policy requires Bill to pay $23,500 in taxes on annual income of $200,000 and Paul to pay $11,500 in tax on annual income of $100,000, then the tax policy is: O regressive. O progressive. O proportional. O optional.
If government tax policy requires Bill to pay $23,500 in taxes on annual income of $200,000 and Paul to pay $11,500 in tax on annual income of $100,000, then the tax policy is: O regressive. O progressive. O proportional. O optional.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:If government tax policy requires Bill to pay $23,500
in taxes on annual income of $200,000 and Paul to
pay $11,500 in tax on annual income of $100,000,
then the tax policy is:
regressive.
O progressive.
proportional.
optional.
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