Who Pays the Lowest Tax

What is the concept of progressive taxation as initially described in the video regarding income taxes?

• Everyone pays the same percentage of their income in taxes.

• The poor pay a larger percentage of their income in taxes than the rich.

• The rich pay a larger percentage of their income in taxes than the poor.

• Taxes are only paid by those earning above a certain threshold.

How do corporate, property, and estate taxes affect the overall tax burden on the rich compared to other income groups?

• They primarily burden the middle class.

• They place a much heavier burden on the rich, including billionaires.

• They are evenly distributed across all income groups.

• They reduce the tax burden on the rich.

What is a key characteristic of payroll taxes that disproportionately affects the wealthy?

• They are only paid by the wealthy.

• They are capped, meaning income above a certain amount is not subject to the Social Security tax.

• They are a fixed dollar amount for everyone, regardless of income.

• They are entirely paid by employers, not employees.

When all types of taxes (income, corporate, property, estate, payroll, and consumption) are considered, what is the overall nature of the American tax system?

• It is highly progressive, with the rich paying significantly more.

• It is mostly regressive, with the poor paying a larger percentage of their income.

• It is mostly flat, with poor people paying about the same portion of their income as rich people.

• It is primarily based on voluntary contributions.