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If society chose to maximize total utility rather than minimum utility,
Tax System
The structured way in which taxes are imposed in a country, including the collection of taxes from individuals and businesses.
Progressive
Referring to a tax system in which the tax rate increases as the taxable amount increases, leading to higher earners paying a higher percentage of their income in taxes.
Regressive
A term often used to describe a tax system where the tax rate decreases as the taxable amount increases, effectively placing a greater burden on those with lower incomes.
Benefits-Received Principle
An approach to funding public goods and services where payments are made by those who benefit from them, matching payment to benefit received.
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