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1 year ago

What term is used when those who benefit most from the stadium bear the highest tax burden?

Business

1 answer:

defon1 year ago

6 0

Progressive Tax is used when those who benefit most from the stadium bear the highest tax burden.

<h3>What is Progressive Tax?</h3>

Progressive taxes are levied at a higher rate as the taxable amount rises. When a tax rate progresses from low to high, it is said to be progressive.
As a result, a taxpayer's average tax rate is lower than their marginal tax rate. The phrase can be used to describe both individual taxes and an entire tax system.
Progressive taxes are implemented in an effort to lessen the impact of taxes on those who have a lower ability to pay because they gradually shift the incidence to those who have a higher ability to pay.
Regressive taxes, like sales taxes, are the antithesis of progressive taxes since they require the poor to contribute a higher percentage of their income than the wealthy.

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