Progressive Tax

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Progressive Tax

A type of graduated tax that applies higher tax rates as the income of the taxpayer increases.

References in periodicals archive ?
For all the talk of the rich not contributing their fair share, the United States has a more progressive tax system than the social democracies of Europe, even if our top tax bracket is technically lower than theirs.
With its reputation as a bastion of progressive politics, New York City might be expected to have a progressive tax system, taking all taxes into account.
And the Notley regime has already begun to take these on with the announcement of phasing in a $15 minimum wage, ending the province's 10-per-cent flat-tax system with a moderately progressive tax system, introducing a moderate corporate tax hike and increased carbon levy on industrial polluters.
If we want a healthy, vibrant, and equal society it is important to have a progressive tax system.
She said: "We want to have a progressive tax system that produces the kind of funding that we need in this State for education and health and for all of the social services that are provided publicly.
As individuals earn more, their statutory tax rates increase producing what appears to be a progressive tax system.
I also support a progressive tax system and a guaranteed livable income.
Government intentions to increase direct tax and decreasing indirect tax are expected to promote progressive tax system in the country.
Galal said that the current economic situation in Egypt, involving slow growth and contraction, is not conducive to the imposition of new taxes, but this does not prevent the government from working on suggestions for reforms to the progressive tax system, which could be implemented in the future.
A progressive tax system is now in effect, ranging from 15% of earnings for those making 10,000 pesos ($400) annually, to 50% for those making more than 50,000 pesos ($2,000).
Both the IRS and California assess tax based on tax brackets, which are the divisions at which tax rates change in a progressive tax system.
Austerity measures will only depress demand in a classic Keynesian style; instead a mixed policy will combine monetary easing to encourage investment, and a progressive tax system on wealth will help reduce the fiscal deficit.

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