Question

Who would pay the least as a percentage of income under a regressive tax?

Factory owner earning $90,000 per year
Artist earning $20,000 per year
Economist earning $60,000 per year
Grill master earning $10,000 per year

Answer 1

Answer:

Factory owner earning $90,000 per year

Explanation:

A regressive tax is a tax rate that decreases as the amount that is going to be taxed increases. This means that people with lower income will have a higher tax rate than people with a higher income. According to this, the factory owner would pay the least as a percentage of income under a regressive tax.

Answer 2

The Factory owner earning $90,000 per year will pay the least as a percentage of income under a regressive tax

A regressive tax refers to a tax rate that decreases as the amount that is going to be taxed increases, this means that people with lower income will have a higher tax rate than people with a higher income.

Hence, the Factory owner earning $90,000 per year will pay the least as a percentage of income under a regressive tax.

Therefore, the Option A is correct

Read more about regressive tax

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