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Business is bad and you need to cut costs by reducing your employees' work hours or by eliminating several positions. You plan a meeting with your employees to discuss this situation.
-Beginning the meeting with a buffer statement ________.
Federal Income Tax
A tax levied by the United States federal government on the annual earnings of individuals, corporations, trusts, and other legal entities. Tax rates vary based on income levels and types of filers.
Progressive Tax
A tax system where the tax rate increases as the taxable amount increases, typically aimed at ensuring higher earners pay a larger percentage of their income in taxes.
Regressive Tax
A tax imposed in such a way that the tax rate decreases as the amount subject to taxation increases, burdening lower-income individuals relatively more than higher-income ones.
Direct Tax
Taxes paid directly to the government by the taxpayer, such as income tax.
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