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what is a progressive income tax system and what is one way that an income tax...

what is a progressive income tax system and what is one way that an income tax system may be structured so that it can be progressive

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Answer #1

Progressive income tax systen is the tax system under which there is increase in tax rate as the amount which us taxable increases.It imposes lowert tax on lower income people and higher tax on higher income people

One way by which income tax system may be structured that it can be progressive is income tax system has to sub divide the assessee in to two parts higher income people and lower income people then tax system should be such that the tax rate is divided into slab rates due to which if you fall in that particular percentage of slab rate you have to pay that level of income tax this is the best way to structure income tax system as progressive

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