Examlex
Which Caribbean country was a close ally of the former Soviet Union in the Cold War era after World War II?
Marginal Tax Rate
The marginal tax rate is the rate at which the last dollar of income is taxed, reflecting the proportion of additional income that is paid in taxes.
Progressive Tax
A tax system where the tax rate increases as the taxable amount or income goes up, making it proportionately higher for wealthier individuals or entities.
Individual Income
The total earnings received by an individual from all sources, including wages, investments, and other forms of compensation.
Marginal Tax Rate
Refers to the rate at which the last dollar of income is taxed, indicating how much tax will be paid on an additional dollar of income.
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