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Jamie,a toddler,is making distinctions about various aspects of color in terms of whether a toy looks red,blue,and so on.In doing so,she is referring to the toy's _________.
Tax Rate Structure
The framework defining how different levels of income are taxed at various rates, often progressive, where higher income incurs higher tax rates.
Progressive
A tax system in which the tax rate increases as the taxable amount increases, placing a larger burden on those who have higher incomes.
Proportional
A tax system where the tax rate remains constant as the taxable amount increases.
Regressive
A tax system where the tax rate decreases as the taxable amount increases, leading to lower-income individuals bearing a proportionally higher tax burden.
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