The following table, based on 2005 data provided by the Congressional Budget Off

Question

The following table, based on 2005 data provided by the Congressional Budget Office (CBO), provides an estimate of the distribution of federal taxes by income class after taking into account all factors (such as deductions and exemptions) affecting the tax rate. What can you objectively conclude from the data? Check all that apply. The rich do not pay enough taxes. The U.S. federal tax is regressive. The effective tax rate rises as income increases. True or False: For the current federal tax system to move to a flat tax system, the government has to lower tax rates on the rich and raise tax rates on the middle class and poor. True False

Explanation / Answer

Yes True. For flat tax system the tax rate has to be risen for poors and lower for riches

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