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Homework answers / question archive / When the level of taxation is a percentage of income, regardless of the size of the income, this is known as what kind of tax system? options:   Flat Taxation   Regressive Taxation   Normal Taxation   Progressive Taxation When a good or service is taxed at the same level, regardless of income, this is known as what kind of tax system? options:   Flat Taxation   Regressive Taxation   Normal Taxation   Progressive Taxation The level at which your personal income is taxed can be changed through: options:   Deductions   Credits   Exemptions   All of the above

When the level of taxation is a percentage of income, regardless of the size of the income, this is known as what kind of tax system? options:   Flat Taxation   Regressive Taxation   Normal Taxation   Progressive Taxation When a good or service is taxed at the same level, regardless of income, this is known as what kind of tax system? options:   Flat Taxation   Regressive Taxation   Normal Taxation   Progressive Taxation The level at which your personal income is taxed can be changed through: options:   Deductions   Credits   Exemptions   All of the above

Economics

When the level of taxation is a percentage of income, regardless of the size of the income, this is known as what kind of tax system?

options:

 

Flat Taxation

 

Regressive Taxation

 

Normal Taxation

 

Progressive Taxation

When a good or service is taxed at the same level, regardless of income, this is known as what kind of tax system?

options:

 

Flat Taxation

 

Regressive Taxation

 

Normal Taxation

 

Progressive Taxation

The level at which your personal income is taxed can be changed through:

options:

 

Deductions

 

Credits

 

Exemptions

 

All of the above

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A Progressive Taxation is an uniform taxation system which depends on the overall income level of the eligible taxpayers and in which usually a larger percentage or proportion of tax is taken from the high-income earners in comparison to the low-income earners as contrast to the Regressive Taxation, under which the taxation system is applied uniformly and the lower-income earners pay a relatively larger or higher percentage of tax in comparison to the high-income earners regardless of the income level. A Normal Taxation refers to a basic tax rate applied to all the taxpayers in any country based on their respective income levels on which various additional subtaxes are applied on the basis of smaller subgroups. Now, under a Flat Taxation system a flat or fixed tax rate is applied on all the taxpayers regardless of income bracket or income size. Therefore, the answer, in this case, would be the first option given in the answer choices or options or Flat Taxation.

Based on all the basic concepts and definition of all the concerned or relevant types of taxation, in this case, under the Regressive Taxation, the same percentage of taxation is imposed on a good or service regardless of the consumer or buyer income level. Hence, the tax burden under Regressive Taxation is disproportionately higher on the relatively lower-income earners. Thus, the answer here would be the second option given in the answer choices or options or Regressive Taxation.

Tax deduction basically refers to the reduction in the overall or total taxable income that is subsequently paid by the taxpapayers which can be changed by following the proper stipulated administrative official procedures and contrastingly, tax credit refers to the reduction in the amount of the overall tax amount paid by the taxpayers. The tax exemptions ideally refers to the income or financial compensations which are free from any tax deductions. Therefore, the answer, in this case, would be the first option given in the answer choices or options or Deductions.