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

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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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