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Who was a proponent of associationism?
Tax Shield
A reduction in taxable income for individuals or corporations achieved through claiming allowable deductions.
Tax Rate
The percentage at which an individual or corporation is taxed. The government sets the rate, which can apply to income, capital gains, or other financial figures.
Straight-Line Depreciation
A procedure for assigning the cost of a solid asset over its productive lifetime in equal annual figures.
Marginal Tax Rates
The rate at which an individual or corporation's next dollar of taxable income is taxed.
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