unit 1 economic fundamentals test\nwhich of these is a progressive tax?\n○ excise tax\n○ luxury tax\n●…

unit 1 economic fundamentals test\nwhich of these is a progressive tax?\n○ excise tax\n○ luxury tax\n● property tax\n○ social security tax
Answer
Brief Explanations:
A progressive tax is one where the tax rate increases as the taxable amount increases. Property tax can be progressive in some cases as higher - value properties are often taxed at higher effective rates. Excise tax is a flat - rate tax on specific goods. Luxury tax is also often a flat - rate tax on luxury items. Social Security tax has a cap on the income subject to it and is not progressive in the traditional sense.
Answer:
C. property tax