Asked by Jessa Gesta on May 25, 2024
Verified
A progressive tax is a tax that ____,while a regressive tax is one that ____.
Progressive Tax
A tax system where the tax rate increases as the taxable amount increases, typically aimed at ensuring higher earners pay a larger percentage of their income in taxes.
Regressive Tax
A tax imposed in such a way that the tax rate decreases as the amount subject to taxation increases, burdening lower-income individuals relatively more than higher-income ones.
- Acquire knowledge on the characteristics that differentiate progressive, regressive, and proportional tax structures.
Verified Answer
RG
Raven GarrisMay 26, 2024
Final Answer :
falls more heavily on the rich;falls more heavily on the poor
Learning Objectives
- Acquire knowledge on the characteristics that differentiate progressive, regressive, and proportional tax structures.