michaelryan32
michaelryan32 michaelryan32
  • 18-04-2018
  • Business
contestada

What is the difference between a progressive tax system and a regressive tax system

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AnShults AnShults
  • 06-12-2019

Answer:

A "regressive tax system" is known as a tax that takes a bigger portion of the income from those who earn low income as compared to those who earn more income.

A regressive tax is commonly those tax that is applied universally to all situations, disregarding of the payer.

While "Progressive tax system" where the tax rate is higher or higher incomes. Progressive tax is designed to take a larger percentage of income from the wealthy than the poor. wealthy can afford the higher tax and should pay more of the tax burden.

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