Asked by ?????? ??????? on May 10, 2024
Verified
A highly progressive tax takes relatively more from the rich than it does from the poor.
Highly Progressive
A tax system in which tax rates increase significantly as income or wealth rises.
- Familiarize oneself with the distinctions among progressive, regressive, and proportional taxation.
Verified Answer
JL
Jahnyla LewisMay 12, 2024
Final Answer :
True
Explanation :
A highly progressive tax system is designed to tax higher income earners at a higher percentage rate than lower income earners, thereby taking relatively more from the rich than from the poor.
Learning Objectives
- Familiarize oneself with the distinctions among progressive, regressive, and proportional taxation.