{"id":35388,"date":"2024-03-29T07:26:40","date_gmt":"2024-03-29T07:26:40","guid":{"rendered":"https:\/\/www.greatassignmenthelp.com\/questions\/?p=35388"},"modified":"2024-03-29T07:26:40","modified_gmt":"2024-03-29T07:26:40","slug":"most-state-and-local-income-taxes-are-either-insert-big-wrinkle-response-here","status":"publish","type":"post","link":"https:\/\/www.greatassignmenthelp.com\/questions\/most-state-and-local-income-taxes-are-either-insert-big-wrinkle-response-here\/","title":{"rendered":"Most state and local income taxes are either… (insert big wrinkle response here)."},"content":{"rendered":"
Most state and local income taxes are either… (insert big wrinkle response here).<\/p>\n
A. Progressive or flat<\/p>\n
B. Regressive or flat<\/p>\n
C. Progressive or regressive<\/p>\n
Answer: C. Progressive or regressive<\/strong><\/p>\n
Most of the income taxes directly applied by states and municipalities tend to be either progressive or regressive. A system of progressive taxation implies the highest tax rate at the post of the highest incomes and vice versa, that is, a person with low incomes pays a higher tax rate, than it is done to a person with a higher income. What this implies is that the fact that, the higher the income, the higher the burden of tax implies progressivity tax, and the tax burden decrease because the tax decreases as income rises as for regressive tax.<\/p>\n