Business, 14.03.2020 02:35 Dezidontcare3237

Scenario: There are 4 households in a locality. The annual income of the first household is $20,000, the annual income of the second household is $47,000, the annual income of the third household is $50,000, and the annual income of the fourth household is $71,000. Refer to the scenario above. Which family pays the highest percentage of its income as tax if income taxes collected by the local government are regressive in nature?A) The first household. B) The second household. C) The third household. D) The fourth household.

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Scenario: There are 4 households in a locality. The annual income of the first household is $20,000,...

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