Taxes
A tax is a sum of money demanded by a government for its support or for specific facilities or services. They are levied upon incomes, property, and sales.
Progressive TaxA progressive tax is a tax takes a larger percentage of income from people in higher-income groups than from people in lower-income ones.
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Regressive TaxA tax that takes a larger percentage of income from people in lower-income groups than from higher-income ones. This means that the average tax rate exceeds the marginal tax rate.
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Proportional Tax
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