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Progressive Tax
A tax system where the tax rate increases as the taxable amount increases, meaning higher income individuals pay a larger percentage of their income in taxes compared to lower-income individuals.
Tax Rate
The percentage at which an individual or corporation is taxed.
Income Increases
Refers to a rise in the amount of money received by a person or entity, typically from work, business, or investments.
Benefits-Received Principle
The benefits-received principle is a taxation theory suggesting that individuals should be taxed based on the extent to which they benefit from public goods and services.
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