What Is a Regressive Tax? And what is its difference with progressive tax?
A regressive tax is different from a progressive tax which takes more tax from high-income individuals. In regressive tax, all earners levied the same. Therefore, it puts higher pressure on low-income earners compared to high-income earners. The examples of regressive tax are as follows: sales tax, user fees, and tax on goods. A regressive tax is usually applied to most people in underdeveloped countries. For more information, please watch the video below.
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