Suppose that gifts were taxed at a rate of 10% for amounts up to $100,000 and 20%

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Suppose that gifts were taxed at a rate of 10% for amounts up to $100,000 and 20% for anything over that amount. Would this tax be regressive or progressive?

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Principles Of Economics

ISBN: 9781506699868

2nd Edition

Authors: OpenStax

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Question Posted: Nov 01, 2023 03:09 AM

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Suppose that gifts were taxed at a rate of 10% for amounts up to $100,000 and 20%

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Progressive People who ...View the full answer

Principles Of Economics

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