BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Sales taxes and excises (except those on luxuries) tend to be regressive, because the share of personal income consumed or spent on a specific good declines as the level of personal income rises. Poll taxes (also known as head taxes), levied as a fixed amount per capita, obviously are regressive.

Detailed explanation-2: -progressive tax-A tax that takes a larger percentage of income from high-income groups than from low-income groups.

Detailed explanation-3: -Sales and excise taxes are the most regressive element in most state and local tax systems. Sales taxes inevitably take a larger share of income from low-and middle-income families than from rich families because sales taxes are levied at a flat rate and spending as a share of income falls as income rises.

Detailed explanation-4: -regressive tax, tax that imposes a smaller burden (relative to resources) on those who are wealthier. Its opposite, a progressive tax, imposes a larger burden on the wealthy. A change to any tax code that renders it less progressive is also referred to as regressive.

Detailed explanation-5: -Key Takeaways Progressive tax refers to the tax arrangement wherein the government imposes taxes with respect to the income levels of individuals. As a result, the higher-income group pays more tax than the lower-income group.