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How did the gradual adoption of agriculture change early human societies?
Marginal Tax Rates
The rate at which an additional dollar of income is taxed, demonstrating the progressive nature of income taxation.
Average Tax Rates
The ratio of the total amount of taxes paid to the total income, indicating the percentage of income that goes towards taxes.
Regressive Tax
A tax system that takes a smaller percentage of income from individuals as their income increases, often considered less fair to lower-income earners.
Payroll Taxes
Financial obligations required from both employers and employees, pegged to a fraction of the payroll expenses incurred by employers.
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