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.

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08-07-2017
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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.

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BlueSky06 BlueSky06 · Answer 1 · 2017-07-18T08:25:30+02:00

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.

abiolataiwo2015 abiolataiwo2015 · Answer 2 · 2022-03-25T17:16:28+01:00

Progressive taxes and regressive taxes similar because: Both are determined based on income.

What is progressive taxes and regressive taxes?

Progressive taxes can be defined as the way in which a person tax rate goes high when the person income increase.

Regressive tax can be defined as the way in which a person tax rate reduces when the tax payer income increase. In this type of tax both low earner and high earner tend to pay equal or the same amount of tax.

Inconclusion progressive taxes and regressive taxes similar because: Both are determined based on income.

Learn more about progressive taxes and regressive taxes here:brainly.com/question/7490306