Explaining Progressive Taxation
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Is progressive taxation fair? What arguments could be made that it is fair or unfair?
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The solution provides an explanation for progressive taxation and arguments for and against it is included in this concise solution.
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First, you'll need a useful definition of Progressive Taxation. Encyclopaedia Britannica offers the following definition of 'Progressive Tax':
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...tax that imposes a larger burden (relative to resources) on those who are richer...
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and further notes that its opposite, 'Regressive Tax':
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...imposes a lesser burden on the wealthy.
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A progressive tax increases as the base amount taxed increases, e.g., 5% of taxable income ...
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