Examlex
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Benefits Principle
A concept that suggests taxes should be levied based on the benefits received by taxpayers, ensuring that those who benefit more from public services pay more taxes.
Ability-To-Pay Principle
The ability-to-pay principle is a tax theory suggesting that taxes should be levied based on the taxpayer’s capacity to pay, implying that wealthier individuals should pay more in taxes.
Gasoline Tax
A tax imposed on the sale of gasoline, often used by governments to raise revenue and discourage excessive fuel consumption.
Mortgage-Interest Deduction
A tax deduction for mortgage interest paid on the first $750,000 of mortgage debt, available to U.S. taxpayers.
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