Taxes and Tax Preparation

Why is the progressive tax is the ideal tax system?

the progressive tax system is the ideal one because it would not be unfair to the people whose income are less because the more you earn, the higher your tax rate.So it means that people who earn less will pay less tax rate while those people who earn more will pay more tax rate. That's the good thing about progressive tax system.

What is the tax stratagy where the consumer pays a higher tax rate as income increases?

a "progressive tax" A "progressive" tax system. == ==

What is the definition of a progressive tax system?

A progressive tax system is a system where the tax rate increases as the amount of the taxable base increases as well. To know more about progressive taxes, visit the link below: http://en.wikipedia.org/wiki/Progressive_tax

What does a progressive taxation system do?

it increases the tax as income rises

What is a progressive tax structure?

What is Progressive Tax Structure

What is a progressive tax system?

a tax system that takes a larger proportion of income from high income people than from low income people

Is gasoline tax progressive?

No. Most gasoline tax in not progressive. It is a tax per gallon.

What is the best definition of a progressive tax system?

a tax system that takes a larger proportion of income from high-income people than from low-income people

What type of income tax system does the tax rate or the proportion of earnings taken out in taxes is greater for higher incomes?

This is a progressive tax system. Those with the most money will have to pay the most in taxes. This is the system used in America.

What is the difference between progressive taxes and regressive taxes?

A progressive method is one in which the [marginal] rate of tax increases as the amount that is subject to taxation increases. A regressive method is one in which the rate decreases as the amount increases. A regressive tax system takes proportionately more money in tax from somebody on a lower income than someone on a higher income.

What are the different theories of taxation?

In a classical system, you have regressive, progressive and proportional. There are different types of taxes as well (e.g. income tax, luxury tax, property tax). .

Is the federal income tax is progressive or regressive?

The federal income tax is progressive A tax that charges more for higher incomes

What rate of income tax is currently in place in the US?

The United States has a progressive income tax system. The highest current rate of income tax on a personal return is 33%.

Describe the difference between a regressive tax system and a progressive tax system and the state the principle that supports each one?

A Regresssive tax system is when a larger percantage frome the income from low-income people than the income of high-income people

What is progressive tax based on?

Progressive tax is a tax that take an increase in tax rate as income rise. it include higher tax rates for higher earning peoples. it based on Income of the respected person. Defination: Progressive Tax is A levy which collects more from those who better able to pay.

How is the federal income tax a progressive tax?

The Federal income tax is a progressive tax because the more a person makes in revenue, the more tax they will have to pay. The tax level or percentage is higher for those with a higher income, too.