Taxation Quiz

Which type of tax is levied on personal income earned from wages and returns on investments?

• Corporate Income Taxes

• Property Taxes

• Individual Income Taxes

• Sales Taxes

What is the structure of the Medicare tax?

• Progressive

• Proportional

• Regressive

• None of the above

Who bears the incidence of Corporate Income Taxes?

• Individual consumers

• Property owners

• Employers and employees

• Corporations, which then pass the expense on to consumers, employees, or shareholders

Which type of tax is considered regressive because the poor pay a larger proportion of their income in sales taxes than do the wealthy?

• Property Taxes

• Sales Taxes

• Excise and Luxury Taxes

• Payroll Taxes

What is the incidence of User Fees and Tolls?

• Employers and employees

• Individual users

• Property owners

• Heirs of large estates

Which type of tax has a structure where rates rise with the value of the estate?

• Sales Taxes

• Property Taxes

• Estate and Inheritance Taxes

• Corporate Income Taxes

This kind of tax is added to a purchase you make at a store.

• Sales Tax

• Income Tax

• Property Tax

• Excise Tax

What is an example of property tax?

• Candy

• Cars

• Paycheck

What type of taxation system imposes a higher tax rate as the income of the taxpayer increases?

• Proportional tax

• Regressive tax

• Progressive tax

• Flat tax

Which of the following best describes a flat tax system?

• Everyone pays the same tax rate, regardless of income level.

• The tax rate decreases as income increases.

• The tax rate increases as income increases.

• Tax rates vary based on the type of goods and services.