Question

Consider the following statements regarding the ‘Progressive taxation’:

I.Progressive taxation method has increasing rates of tax for increasing value or volume on which the tax is being imposed.

II.Progressive taxation method has increasing rates of tax for decreasing value or volume on which the tax is being imposed.

III. The idea of Progressive taxation is less tax on the people who earn less and higher tax on the people who earn more.

Which of the following statement(s) is/are correct?

• A. Only I
• B. I and II
• C. I and III
• D. All of the above

Answer 1

Answer:

C. I and III