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What is a progressive tax?

Answer Text:
Progressive tax
- This is a type of tax where the rate/amount paid increases proportionately with income:
Income
Rate
0-5000 ->20%
5001-10000 ->25%
10001-15000 ->30%
-In progressive tax, those with higher income rates remit a higher proportion of their income as tax compared to those in lower income brackets.
This type of tax is based on the belief that one only needs a certain amount in order to have a decent standard of living.