Explain the Difference Between Progressive and Regressive Taxes

question 93

Essay

Explain the difference between progressive and regressive taxes. Would we be better served by simply employing a flat tax across the board?

---

Definitions:

Signature Requirement

The necessity for a formal, signed acknowledgment or agreement, often for legal or official purposes.

Negotiability

The quality of a document, particularly a financial instrument, that allows it to be transferred or assigned freely from one party to another.

Holder

An individual or entity that legally possesses a negotiable instrument, such as a check or a bond, and has the right to collect the value of the instrument.

Payable

Describes an amount of money that is owed and should be paid, often within a specified period.