What type of tax requires individuals with higher incomes to pay a lower percentage of their earnings compared to those with lower incomes?

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Explanation

A regressive tax is one where the tax rate decreases as the taxpayer's income increases, meaning that higher earners pay a smaller portion of their income in taxes compared to lower earners. This contrasts with proportional or progressive taxes, where the rate remains constant or increases with income.

What type of tax requires individuals with higher in… — Taxation | PakQuizHub