Asked by Jenny Mclin on Jul 17, 2024
Verified
A tax is progressive if the average tax rate rises as income increases.
Progressive Tax
A tax system in which the tax rate increases as the taxable amount increases, often aimed at ensuring tax equity.
- Familiarize oneself with the fundamentals of progressive, regressive, and proportional taxes and their implications for diverse income groups.
Verified Answer
DJ
Dylan JosephJul 23, 2024
Final Answer :
True
Explanation :
In a progressive tax system, individuals with higher incomes are taxed at higher rates, which leads to the average tax rate increasing as income increases.
Learning Objectives
- Familiarize oneself with the fundamentals of progressive, regressive, and proportional taxes and their implications for diverse income groups.