australia needs tax change, page-34

Misty FYI

1% on bank deposits is proportional tax as the base the tax is applied to differs for wealthy vs poor ($10 vs $1000).

Regressive Tax is a GST like tax where everyone pays the same regardless of your income. eg everyone pays $10 tax on a goods or service worth $100. Hence the tax is regressive as $10 tax to the poor is proportionally higher than those on high income. The 1% example applies a tax to the earning base or deposits of the individual and hence the tax paid by a low income worker would be less than that of a high income earner, hence it is called proportional.

Then there is progressive tax which increases in proportion as the base increases like our income tax scales currently.

You seem to have unfairly bagged The Cougar when he was correct. Takes a man to admit he was wrong!!!

This is not a post in support or condemnation of the idea, just a post on BASIC ECONOMICS.