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Ability-To-Pay Principle
A taxation principle that suggests taxes should be levied according to an individual's or entity's ability to pay, favoring a more equitable distribution of the tax burden.
U.S. Income Tax
A tax imposed by the U.S. government on the income generated by businesses and individuals within its jurisdiction.
FICA Tax
A federal payroll tax in the United States that funds Social Security and Medicare programs.
Progressive
A term that may refer to a system or policy where the rate increases as the taxable amount increases, often used in the context of taxation or a general approach promoting change or innovation.
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