Which of the following best describes a progressive tax system? It redistributes income from lower income levels to higher is O It imposes higher marginal tax rates on higher income. It redistributes income to promote economic growth. It is designed to replace a system of sales taxes.
Which of the following best describes a progressive tax system? It redistributes income from lower income levels to higher is O It imposes higher marginal tax rates on higher income. It redistributes income to promote economic growth. It is designed to replace a system of sales taxes.
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
ChapterST1: Government Spending And Taxation
Section: Chapter Questions
Problem 4CQ
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![Which of the following best describes a progressive tax system?
O It redistributes income from lower income levels to higher income levels.
It imposes higher marginal tax rates on higher income.
It redistributes income to promote economic growth.
It is designed to replace a system of sales taxes.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3e192aa0-d124-48e8-bfd7-69c1a9587fd9%2F789c29f3-49c2-4299-bb9f-66a41cb62e74%2Fvlizj8q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which of the following best describes a progressive tax system?
O It redistributes income from lower income levels to higher income levels.
It imposes higher marginal tax rates on higher income.
It redistributes income to promote economic growth.
It is designed to replace a system of sales taxes.
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