A tax system in which tax rates increase as income increases is called a(n) ________ system.

Question

Quizplus · Accepted Answer

A progressive tax system is based on the principle that individuals with higher incomes should pay a larger percentage of their income in taxes than those with lower incomes. This system is designed to be more fair and balanced, as it places a greater burden on those who can afford it, while easing the burden on those who cannot.

A Tax System in Which Tax Rates Increase as Income