In: Economics
Which of the following is the best example of a “regressive" tax?
Group of answer choices
A.High marginal tax rates
B.Sales tax levied on the sale of retail goods
C.US Federal income tax
D.New York State income tax
Regressive type type of taxes are those taxes in which as income rises income tax decreases
it is just opposite of progressive tax system
examples a progressive tax system is New York income tax US ,federal income tax
but when we talk about regressive income tax Then it's example can be sales tax Levied on the sale of retail goods
the correct answer is option B