(a) Do Medicare considered a regressive tax? (b) If so, why? | Homework.Study.com (2024)

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(a) Do Medicare considered a regressive tax?

(b) If so, why?

Tax:

Tax refers to a mandatory payment made by businesses and the citizens to the government. Governments implement taxes to the economy to raise money to finance their projects in the economy. There are different taxes implemented by the government, including wealth tax, income tax, excise tax, and Value Added Tax.

Answer and Explanation:1

a) Medicare is considered a regressive tax.

b) Regressive tax refers to a tax in the economy which decreases as the income increases and increases...

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