Examlex
All of the following statements are true EXCEPT:
Average Tax Rate
The ratio of the total amount of taxes paid to the total income, showing the percentage of income paid in taxes.
Progressive Tax
A taxation system where the tax rate increases as the taxable amount (income or profits) increases, making it proportionately more taxing on higher earners.
Income Increases
Refers to a situation where an individual's or entity's earnings grow over a period, leading to higher financial resources.
Taxable Income
The portion of an individual's or organization's income that is subject to federal, state, or other forms of taxation.
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