- progressive tax system
- A tax system that taxes the wealthy at a higher percentage rate than the less wealthy. Bloomberg Financial Dictionary
Financial and business terms. 2012.
progressive tax system
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Progressive tax system — A tax system wherein the average tax rate increases for some increases in income but never decreases with an increase in income. The New York Times Financial Glossary … Financial and business terms
progressive tax — ➔ tax1 * * * progressive tax UK US noun [C, usually singular] TAX ► a tax in which the rate of tax is higher on larger amounts of money: »In a progressive tax system, rich people pay a higher percentage of their income as taxes than do poor… … Financial and business terms
Progressive tax — A progressive tax is a tax imposed so that the tax rate increases as the amount subject to taxation increases. [ [http://www.merriam webster.com/dictionary/Progressive Webster] (4b): increasing in rate as the base increases (a progressive tax)] [ … Wikipedia
Progressive Tax — A tax that takes a larger percentage from the income of high income earners than it does from low income individuals. The United States income tax is considered progressive: in 2010, individuals who earned up to $8,375 fell into the 10% tax… … Investment dictionary
progressive tax — noun any tax in which the rate increases as the amount subject to taxation increases • Syn: ↑graduated tax • Hypernyms: ↑tax, ↑taxation, ↑revenue enhancement * * * progressive tax UK US noun [singular] … Useful english dictionary
progressive tax — pro,gressive tax noun singular a tax system in which people who earn a lot of money pay a larger percentage of their income in tax than people who earn less … Usage of the words and phrases in modern English
progressive tax — UK / US noun [singular] economics a tax system in which people who earn a lot of money pay a larger percentage of their income in tax than people who earn less … English dictionary
progressive tax — Tax levied at a rate that increases as the quantity subject to taxation increases. Designed to collect a greater proportion of tax revenue from wealthy people, progressive taxes reflect the view that those who are able to pay more should carry a… … Universalium
progressive tax — A *taxation system in which *tax rates increase with higher levels of taxable income. Contrast *regressive tax … Auditor's dictionary
Tax bracket — Tax brackets are the divisions at which tax rates change in a progressive tax system (or an explicitly regressive tax system, although this is much rarer). Essentially, they are the cutoff values for taxable income mdash; income past a certain… … Wikipedia
