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Problem 1-3 (LO. 1, 2, 3) Complete the following regarding regressive and progressive taxes. for any given income level. The tax is progressive if a higher rate of tax a. A tax is regressive if the rate of tax applies as the tax base decreases increases b. Select either "Regressive", "Progress distinguish the items below. remains constant Federal gift tax Federal excise tax on cigarettes Federal individual income tax Federal corporate income tax Problem 1-3 (LO. 1, 2, 3) Complete the following regarding regressive and progressive taxes. for any given income level. The tax is progressive if a higher rate of tax a. A tax is regressive if the rate of tax applies as the tax base b. Select either "Regressive", "Progressive" or "Neither" to distinguish the items below. Federal gift tax Federal excise tax on cigarettes Progressive Federal individual income tax Regressive Federal corporate income tax Neither Problem 1-3 (LO. 1, 2, 3) Complete the following regarding regressive and progressive taxes. a. A tax is regressive if the rate of tax for any given income level. The tax is progressive if a higher rate of tax applies as the tax base b. Select either "Regressive decreases ve" or "Neither" to distinguish the items below. increases Federal gift tax Federal excise tax on cigarettes Federal individual income tax Federal corporate income tax

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