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What appointment usually is the first made by an incoming governor?
Average Tax Rate
The ratio of the total taxes paid to the overall income, found by dividing the aggregate amount paid in taxes by the total income.
Income Tax Schedule
A chart or formula used to determine the tax rate applied to various levels of income.
Progressive
Describes a taxation system where the tax rate increases as the taxable amount increases, aiming to distribute the tax burden more equitably.
Regressive
A term often used to describe taxes where the tax rate decreases as the taxable amount increases.
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