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A(n) ____ is a molding that is rabbeted on both edges.
Average Tax Rate
The fraction of total income that is paid in taxes, calculated by dividing the total taxes paid by the total taxable income.
Ability-To-Pay Principle
A tax theory stating that taxes should be levied according to an individual or entity’s capacity to pay.
Benefits Principle
A theory in taxation stating that those who benefit from government services should pay taxes in proportion to the amount they benefit.
Government Services
Public programs and activities provided by the federal, state, and local governments to benefit their citizens.
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