<< Chapter < Page | Chapter >> Page > |
Card 8 / 19:
The social security tax is 6.2% on employees’ income earned below $113,000. Is this tax progressive, regressive or proportional?
The tax is regressive because wealthy income earners are not taxed at all on income above $113,000. As a percent of total income, the social security tax hits lower income earners harder than wealthier individuals.
Previous Card | ← Previous Card Button |
Next Card | → Next Card Button |
Flip Card | ↑ / ↓ / Return / Space |
Notification Switch
Would you like to follow the 'University of houston downtown: macroeconomics' conversation and receive update notifications?