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What is the relationship between age and productivity and satisfaction?
Taxable Income
The portion of an individual’s or entity’s income that is subject to income tax after all deductions and exemptions.
Progressive
A system or policy where the level of contribution or effort increases with some measure of capacity, such as a progressive tax system where higher income earns pay a higher rate.
Proportional
Relating to or denoting a relationship where elements vary together at a constant rate and a change in one element results in a corresponding change in another.
Regressive
A term describing a tax system where the tax rate decreases as the taxable amount increases, placing a greater relative burden on lower income earners.
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