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AP Microeconomics

Category - Microeconomics

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Regressive taxes typically people in a higher income level bracket. True or false?

True
False

Explanation

Answer - B - This is false.

Key Takeaway: With a regressive tax, the rate of taxation generally declines as an individual or corporation’s income increases. Because of this, regressive taxes actually hurt people within a lower income bracket. Typical examples of regressive taxes are the Social Security tax and sales tax.

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AP Microeconomics

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