Social Security withholding is an example of a(n)___________.A.progressive taxB.regressive taxC.estate taxD.state taxSUBMITarrow_backPREVIOUS
Question
Social Security withholding is an example of a(n)___________.A.progressive taxB.regressive taxC.estate taxD.state taxSUBMITarrow_backPREVIOUS
Solution
Social Security withholding is an example of a(n) B. regressive tax. This is because the tax is capped at a certain income level. This means that those who earn more than the cap pay a smaller percentage of their total income than those who earn less.
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