Final answer:
A progressive income tax system is a tax system in which individuals with higher incomes pay a higher percentage of their income in taxes compared to those with lower incomes. The United States has one of the most progressive income tax systems in the world.
Step-by-step explanation:
Progressive Income Tax System
A progressive income tax system is a tax system in which individuals with higher incomes pay a higher percentage of their income in taxes compared to those with lower incomes. This means that as income increases, the tax rate also increases. The United States has one of the most progressive income tax systems in the world, where tax rates are on a sliding scale and higher income earners pay a greater share of their income in taxes.
For example, in 2015, U.S. taxpayers who were married and filing jointly paid a 10 percent tax rate on the first $18,450 of income, 15 percent on the next $56,450, and the rate continued to rise up to 39.6 percent on any taxable income. This progressive tax system aims to ensure that those with higher incomes contribute a larger proportion of their earnings to fund public services and programs.