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Progressive Income Tax
A tax system where the tax rate increases as the taxable amount of an individual's or entity's income increases, aiming to redistribute income more equally.
Efficiency
The degree to which an entity optimizes the use of its resources to achieve its objectives, minimizing waste and maximizing output.
Equality
Refers to the state or quality of being equal, especially in status, rights, or opportunities.
Redistributes Income
The process by which government policies, taxation, and public spending aim to adjust the allocation of income across a society.
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