Examlex
Asian Tigers was the name given to the strong, export-oriented, and industrialized economies of South Korea, Taiwan, Hong Kong, and Singapore during the later portion of the twentieth century.
Negative Income Tax
A program where the government provides additional income to those who earn under a specific threshold, rather than collecting taxes from them.
Tax Liability
Tax liability is the total amount of tax that an individual or organization is legally obligated to pay to a taxing authority based on earnings, property ownership, or other taxable conditions.
Earned Income Tax Credit
A tax credit in the United States designed to benefit individuals and families with low to moderate incomes, effectively reducing the amount of tax owed and possibly resulting in a refund.
Minimum-Wage Laws
Legislation that sets the lowest hourly wage rate that an employer can legally pay their workers.
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