Which of the following explains one difference between a consumption tax and an income tax?;which of the following is correct? (A. B. C. or D.);A. Under an income tax, present consumption is taxed more heavily than future consumption, under a consumption tax, future consumption is taxed more heavily than present consumption.;B. Under a consumption tax, households pay taxes only on the part of income they spend, under an income tax, households pay taxes on all income earned.;C. Savings are taxed more heavily under a consumption tax than under an income tax.;D. An income tax is a regressive tax, a consumption tax is a progressive tax.
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