Both progressive and regressive tax depends solely on one’s income, but the main difference can be illustrated by the fact that it’s reactions are opposite. The notion of progressive taxes is that, the more you earn, the higher your tax rate, whereas the notion of regressive taxes is that the less you earn, the higher your tax rates. Additionally, in classical terms, progressive tax is income tax, and regressive tax is sales tax.
Archive for August 25th, 2010
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