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Glossary Political Economy / Term

Progressive tax

A tax that tends to take a smaller percentage of the incomes of lower income citizens compared to the percentage it takes of the incomes of wealthier citizens. Example: an income tax with steeper rates for those in higher income brackets, or a special sales tax levied only on expensive ";luxuries"; like yachts or jewelry.

[See also: regressive tax]

Permanent link Progressive tax - Creation date 2020-06-14


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