Asked by
Mohammed Saleh
on Nov 05, 2024
Verified
A retail sales tax is a proportional tax with respect to income.
Proportional Tax
A taxation structure where the rate of tax stays the same, no matter the taxable amount.
Retail Sales Tax
A tax imposed on the retail price of goods and services paid by the consumer at the point of sale.
- Assess the effects of diverse tax schemes (progressive, regressive, proportional) on the allocation of income.
Verified Answer
MA
Learning Objectives
- Assess the effects of diverse tax schemes (progressive, regressive, proportional) on the allocation of income.