Regressive tax

Regressive tax

A tax that takes a smaller proportion of income as the taxpayer's income rises, for example, a fixed-rate vehicle tax that eats up a much larger slice of a poor person's income than a rich person's income. This goes against the principle of vertical equity, which many people think should be at the heart of any fair tax system.

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Part of Speech: noun
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Industry/Domain: Economy
Category: Economics
Company: The Economist
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Related terms

regressive tax

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A tax that takes a smaller proportion of income as the taxpayer’s income rises, for example, a fixed-rate vehicle tax that eats up a much larger slice of a poor person’s income ...

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