What is difference between horizontal and vertical equity, Microeconomics

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What is difference between horizontal and vertical equity

Problem

What are the five characteristics of a good tax system? How well does the U.S. tax system fare in terms of these criteria? What is the difference between horizontal equity and vertical equity? What is the difference between a progressive and a regressive tax?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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