Which of the tables accurately describes the various tax types and how revenues are used for the public good?(1 point)ResponsesType of Tax Description Revenue Use For Public GoodRegressive Tax A tax where all levels of yearly income are taxed at the same rate Social Security and MedicareProgressive Tax A tax that does not change based on the taxpayer’s level of income Funding police and fire departments, and maintaining roads and schoolsProportional Tax A sales tax based on a percentage of a consumer good Military and veteran servicesType of Tax Description Revenue Use For Public Good Regressive Tax A tax where all levels of yearly income are taxed at the same rate Social Security and Medicare Progressive Tax A tax that does not change based on the taxpayer’s level of income Funding police and fire departments, and maintaining roads and schools Proportional Tax A sales tax based on a percentage of a consumer good Military and veteran servicesType of Tax Description Revenue Use For Public GoodRegressive Tax A tax based on the taxpayer’s ability to pay where higher tax rates apply to higher levels of income and a lower tax rate on lower-income earners Social Security and MedicareProgressive Tax A tax that does not change based on the taxpayer’s level of income Funding police and fire departments, and maintaining roads and schoolsProportional Tax A tax where all levels of yearly income are taxed at the same rate Military and veteran servicesType of Tax Description Revenue Use For Public Good Regressive Tax A tax based on the taxpayer’s ability to pay where higher tax rates apply to higher levels of income and a lower tax rate on lower-income earners Social Security and Medicare Progressive Tax A tax that does not change based on the taxpayer’s level of income Funding police and fire departments, and maintaining roads and schools Proportional Tax A tax where all levels of yearly income are taxed at the same rate Military and veteran servicesType of Tax Description Revenue Use For Public GoodRegressive Tax An estate tax based on a percentage of the estate’s value Social Security and MedicareProgressive Tax A tax where all levels of yearly income are taxed at the same rate Funding police and fire departments, and maintaining roads and schoolsProportional Tax A tax based on the taxpayer’s ability to pay where higher tax rates apply to higher levels of income and a lower tax rate on lower-income earners Military and veteran servicesType of Tax Description Revenue Use For Public Good Regressive Tax An estate tax based on a percentage of the estate’s value Social Security and Medicare Progressive Tax A tax where all levels of yearly income are taxed at the same rate Funding police and fire departments, and maintaining roads and schools Proportional Tax A tax based on the taxpayer’s ability to pay where higher tax rates apply to higher levels of income and a lower tax rate on lower-income earners Military and veteran servicesType of Tax Description Revenue Use For Public GoodRegressive Tax A tax that does not change based on the taxpayer’s level of income Social Security and MedicareProgressive Tax A tax based on the taxpayer's ability to pay where higher tax rates apply to higher levels of income and a lower tax rate on lower-income earners Funding police and fire departments, and maintaining roads and schoolsProportional Tax A tax where all levels of yearly income are taxed at the same rate Military and veteran servicesType of Tax Description Revenue Use For Public Good Regressive Tax A tax that does not change based on the taxpayer’s level of income Social Security and Medicare Progressive Tax A tax based on the taxpayer's ability to pay where higher tax rates apply to higher levels of income and a lower tax rate on lower-income earners Funding police and fire departments, and maintaining roads and schools Proportional Tax A tax where all levels of yearly income are taxed at the same rate Military and veteran servicesSkip to navigationPreviousNext
The table that accurately describes the various tax types and how revenues are used for the public good is:
Type of Tax | Description | Revenue Use For Public Good
Regressive Tax | A tax based on the taxpayer's ability to pay where higher tax rates apply to higher levels of income and a lower tax rate on lower-income earners | Social Security and Medicare
Progressive Tax | A tax that does not change based on the taxpayer’s level of income | Funding police and fire departments, and maintaining roads and schools
Proportional Tax | A tax where all levels of yearly income are taxed at the same rate | Military and veteran services