Question

Explain the following with examples
I) Regressive tax
II) Proportional tax
III) Depressive tax​

Answer 1

Answer:

Regressive tax is a tax applied uniformly, taking a larger percentage of income from low-income earners than from high-income earners.

Proportional tax is an income tax system where the same percentage of tax is levied on all taxpayers, regardless of their income.

Depressive tax is extreme recession that lasts three or more years or leads to a decline in real gross domestic product (GDP) of at least 10 percent.