A Progressive Tax is…

June 22nd, 2009

A progressive tax is a tax system in which the more money you make, the more you pay in taxes as a percentage of your total income (this is what we do in the U.S.). For example, if someone who makes $200,000 a year pays 10% of his income in taxes and someone who makes $550,000 pays 15%, that is a progressive tax system.

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