what is the difference between a flat tax rate and progressive tax rate?

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Answer 1

A progressive tax system has tiers of tax rates that charge people with higher incomes a bigger percentage of their income while giving the lowest rates to people with lower incomes. Plans with a flat tax often give every taxpayer the same tax rate.

The required details for progressive tax rate in given paragraph

A tax that is progressive is one in which the tax rate rises as the taxable amount rises. Progressive taxation is when tax rates gradually increase from low to high levels, resulting in a situation where the average tax rate for a taxpayer is lower than their marginal tax rate. Both individual taxes and a tax system as a whole are included in the definition of the phrase. Progressive taxes are used to reduce the tax burden on those with lower income levels because they gradually shift the incidence of the tax to people with higher income levels.

Regressive taxes, like sales taxes, are the antithesis of progressive taxes in that they need a greater percentage of revenue from the poor than from the wealthy.

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Related Questions

a computer server experiences large fluctuations in the amount of data requests it receives throughout the day. because of this variation, little’s law does not apply.True/False

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The statement a computer server experiences large fluctuations in the amount of data requests it receives throughout the day. because of this variation, little’s law does not apply is false. Because when inventory, flow rates, and flow times vary, Little's Law still holds true.

The relationship is not impacted by the distribution of the arrival process, the distribution of the services, the order of the services, or pretty much anything else. The bottleneck that causes the queue in the majority of queuing systems is service time. The distribution of the arrival process, the distribution of the services, the order of the services, or pretty much anything else has no effect on Little's Law. The process behaviour gets more unpredictable as these presumptions turn out to be less accurate.

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