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Progressive Taxes
A taxing mechanism where the tax rate increases as the taxable amount grows, resulting in individuals with higher incomes paying a higher percentage of their income in taxes.
Direct Taxes
Taxes levied directly on individuals' or entities' income or wealth, such as income tax and property tax.
Social Security Tax
A tax levied on both employers and employees to fund the Social Security program, which provides benefits to retirees, the disabled, and children of deceased workers.
Direct Taxes
Taxes levied directly on an individual's or organization's income or wealth, such as income tax or property tax.
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