Examlex
The rational model approaches decision making:
Progressive
Relating to an approach or policy that aims to provide greater social services or advantages to those with lower incomes, funded by higher taxes on those with higher incomes.
Marginal Tax Rate
The rate at which the last dollar of income is taxed, representing the increase in tax payment for every additional dollar earned.
Taxable Income
The portion of an individual or entity's income upon which taxes are levied by the government, after all deductions and exemptions are factored in.
Average Tax Rate
The proportion of total income that is paid in taxes, calculated by dividing the total amount of taxes paid by the total income.
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