Examlex
An agent that causes the pupil to contract is called:
Marginal Tax Rate
The rate at which your last dollar of income is taxed, representing the percentage of tax applied to your income for each tax bracket in which you qualify.
Taxable Income
The portion of an individual's or corporation's income that is subject to taxes according to the governing tax laws.
Flat Tax
A tax system with a constant tax rate applied to all levels of income, opposing progressive tax systems where rates increase with income.
Tax Burden
The measure of the total amount of taxes that an individual or business must pay, expressed as a percentage of income or profits.
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