Question

What are the main differences between the flat, regressive, and progressive tax plans?

Answer 1

In a flat tax plan, the tax rate is the same for all income levels, that's why it's called "flat tax."

In a regressive tax plan, the tax rate is the same regardless of income level and the proportion of income that goes toward taxes decreases as you earn more income.

And in a progressive tax plan, as your income increases, the percentage of taxes you pay to the government also increases.