Examlex
A monopolist can earn abnormal profits in the short and long term due to barriers to entry.
Payroll Tax
Levies charged to both employers and employees, based on a percentage of the wages that employees receive from their employers.
Wage-Base Limitation
A ceiling on the amount of an employee's income that is subject to certain taxes or contributions.
Progressive
A political and social philosophy advocating for reform and improvements in social justice, welfare, and the protection of civil liberties.
Regressive
A term describing a tax system where the tax rate decreases as the taxable amount increases, disproportionately affecting those with lower incomes.
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