When is tax day? How are income taxes collected? What are social insurance taxes? What is the difference between progressive and regressive taxes?

When is tax day? How are income taxes collected? What are social insurance taxes? What is the difference between progressive and regressive taxes?



Answer:

-April 15
-collected by the IRS
-taxes levied on social insurance agencies
-OASDI, Medicare, unemployment compensation
-PROGRESSIVE: the higher one's income, the higher the tax.
-REGRESSIVE: levied at a flat rate

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