The taxation principle that says people with higher incomes should pay more in taxes than those with lower incomes is called?

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24-08-2022
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The taxation principle that says people with higher incomes should pay more in taxes than those with lower incomes is called?

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astha8579 astha8579 · Answer 1 · 2022-08-31T09:44:31+02:00

The taxation principle that says people with higher incomes should pay more in taxes is called progressive tax.

What is Progressive tax?

A progressive tax is one where the typical tax trouble increments with pay. Big league salary families pay a lopsided portion of the tax trouble.

The reasoning for a progressive tax is that a level rate tax would be a lopsided weight for individuals with low salaries. The dollar sum owed might be more modest, however the impact on their genuine spending power is more prominent.

The degree to how progressive a tax structure is relies on the amount of the tax trouble is moved to higher salaries.

Therefore progressive tax lead people to pay higher income.

Learn more about tax here:

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