Ask Question
28 August, 11:23

How are progressive taxes and regressive taxes similar? Both charge high-income individuals more. Both are considered flat taxes. Both are determined based on income. Both are types of indirect taxes.

+4
Answers (1)
  1. 28 August, 13:20
    0
    Progressive taxes are those tax amounts that increase when the payer’s income also increases. On the other hand, regressive taxes are charged more to the low-income generating individuals. That said, the lower income a person have then, the higher is the amount of the tax that needs to be paid. The similarity of these two taxes is that they are both determined based on a person’s income. Thus, the answer is the third choice.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “How are progressive taxes and regressive taxes similar? Both charge high-income individuals more. Both are considered flat taxes. Both are ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers