Examlex
What is the definition of the following term:
-The Family:
Lump-Sum Taxes
Taxes that are the same amount for everyone, regardless of the taxpayer’s income level or ability to pay.
Marginal Tax Rates
The percentage of tax applied to the last dollar earned, indicating the fraction of any additional income that will be taken in taxes.
Inflation-Adjusted
An adjective describing the modification of financial figures to reflect changes in the purchasing power of money, allowing for comparison over time.
Income Tax Revenue
The total sum of money collected by the government from individuals or businesses based on earned income and profits.
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