Examlex
Instructions: Identify the following term(s).
Emancipation Proclamation
Tax Cuts
Reductions in the amount of taxes imposed by a government on its citizens, often aimed at stimulating economic growth or achieving specific policy objectives.
Progressive Taxes
Taxation that takes a larger percentage of income from high-income earners than from low-income earners, aimed at reducing income inequality.
Ability-To-Pay Principle
The concept that taxes should be levied according to an individual's or entity's ability to bear them, typically resulting in higher earners paying more taxes.
Lump-Sum Taxes
Taxes that are a fixed amount, not dependent on the taxpayer's income or activities, thus they do not distort economic decisions.
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