Vertical equity asserts that persons in similar circumstances should face similar tax burdens.

Name: Vertical equity asserts that persons in similar circumstances should face similar tax burdens.
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Vertical equity is the principle that people with higher incomes should pay more in taxes than those with lower incomes, reflecting their ability to pay. Horizontal equity, on the other hand, asserts that persons in similar financial circumstances should face similar tax burdens.

Vertical Equity Asserts That Persons in Similar Circumstances Should Face