Examlex
To what extent do you support a liberal approach that focuses on rehabilitating offenders and emphasizes the idea that people will thrive and do well when provided with enough support?
Social Security Tax
A tax levied on both employers and employees to fund the Social Security program, which provides benefits for retirees, disabled individuals, and survivors.
Average Tax Rate
The average tax rate is the proportion of total income paid in taxes, calculated by dividing the total tax amount by the taxpayer’s total income.
Marginal Tax Bracket
The tax rate that applies to the last dollar of the taxpayer's income, influencing incremental income earned or deductions.
Adam Smith
An 18th-century Scottish economist and philosopher, best known for his theories on free market economies and the concept of 'invisible hand' guiding supply and demand.
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