State two differences between progressive and proportional taxation.
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PROGRESSIVE:-
1)it means the proportion of income paid in taxes increases as the taxpayer's income increases.
2)eg: federal income tax.
PROPORTIONAL:-
1) its also known as flat tax systems,apply the same rate tax to all payers.
2)eg: flat rate income taxes,occupation taxes etc.
1)it means the proportion of income paid in taxes increases as the taxpayer's income increases.
2)eg: federal income tax.
PROPORTIONAL:-
1) its also known as flat tax systems,apply the same rate tax to all payers.
2)eg: flat rate income taxes,occupation taxes etc.
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