Explain progressive and regressive taxes.
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I'll be glad to comment on your answer.
A progressive tax is a tax whose rate increases as the payers income increases? if individuals who earn high incomes have a greater proportion of their incomes taken to pay the tax?
A regressive tax is one whose rate increases as the payers income decreases?
A regressive tax is one whose rate increases as the payers income decreases?
Right. Also, a regressive tax takes proportionately more from low income people than from higher income people.
thank you.
You're welcome.
1 answer