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What are the most movable joints in the body?
Marginal Tax Rate
The percentage of each additional dollar of income that goes to the tax.
Regressive
A term used to describe a tax system in which the tax rate decreases as the taxpayer's income increases, placing a larger burden on lower-income earners.
Ability-to-Pay Principle
A taxation principle that argues taxes should be levied according to an individual's or entity's capability to bear the tax burden.
Income Taxes
Taxes levied by governments on individuals or corporations' income, where the tax rate may increase as the taxable amount increases.
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