单词 | progressive tax |
释义 | progressive tax A tax where the revenue collected rises more than proportionally to income. income tax is made progressive by having exemptions for very small incomes, low rates for the first slice of taxable income, and higher rates for the largest incomes. Indirect taxes can be progressive if there are exemptions or low tax rates for goods heavily consumed by the poor, for example the UK's zero VAT on food, and higher rates on luxury items more heavily consumed by the rich. |
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