Examlex
How does federal regulation of recent years differ from historical regulation?
Lump-Sum
A single payment made at a particular time, as opposed to a series of smaller payments or installments.
Tax System
The structured way in which taxes are levied in a country, including the collection, management, and expenditure of taxed income.
Regressive
Describes a tax structure where the tax rate decreases as the taxable amount increases, placing a higher relative burden on lower income earners.
Effective Average
A calculated mean intended to provide a more accurate or meaningful representation of a set of values, taking into account various factors.
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