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Economics

What is the distinguishes a progressive income tax, from a proportional income tax, or a regressive income tax?

A proportional income tax takes the similar percentage of a person's income, whether they are rich or poor. A progressive income tax takes a larger percentage of income from the rich, whereas a regressive income tax takes a larger percentage from the poor.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9574768

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