Examlex
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Progressive Taxation
A tax system where the tax rate increases as the taxable base amount increases, ensuring that those who have higher incomes contribute a larger share of their income in taxes, with the aim of achieving a more equitable distribution of wealth.
Political Logrolling
The act of trading favors, particularly in the political arena through mutual voting on each other's proposed bills.
Special-Interest Effect
The impact that a small, focused group might have on policymaking for their own benefit, often at the expense of the larger population.
Government Failure
Situations where government interventions in the economy lead to inefficient outcomes or allocation of resources, often caused by unintended consequences.
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