[This is part of the series: The Complete Guide To Economics 101.]
What is a progressive tax?
A Progressive Tax is a tax that’s rate increases as one’s income increases.
Earnings from zero to 50,000 are taxed at (say) 15%.
Earnings from 50,000 to 100,000 are taxed at 20%.
And earnings from 100,000 and above are taxed at 25%.
Although it penalizes success, a progressive tax is rational to most.
This is the opposite of a regressive tax.