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Tax “Logic”: Pro- and Re-gressive
In general, taxes can be categorized as progressive and regressive. A progressive tax is one that affects high-income taxpayers more than low-income taxpayers. (How do you like that term ‘taxpayer’? It makes ‘individual’ seem all warm and fuzzy). An example of a progressive tax is the income tax. The Federal tax scheme has different tax brackets. Brackets are simply percentages. You pay a higher percentage of your income, in theory anyway, as you ea...
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