Describe a proportional tax using examples

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Reference no: EM131777046

Question: Which of the following example(s) describe a proportional tax?

- Social Security tax rate of 6.2% on earned income below $117,000 and 0% on income earned above $117,000

- Medicare payroll tax of 2.9% of income for everyone, regardless of how much they earn

- Income tax with a 10% tax rate on low income households and 20-30% tax rates on higher income households

Reference no: EM131777046

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