Examlex
In programming packages, a compiler is used to translate high-level language statements into machine language instructions.
Progressive
Referring to a tax system in which the tax rate increases as the taxable amount increases, often aimed at reducing income inequality.
Governs Least
A principle often associated with libertarianism, suggesting that the best government is one that governs the least, emphasizing minimal state intervention in personal and economic matters.
Marginal Tax Rate
The rate at which the last dollar of income is taxed, reflecting the percentage of additional income that is taken as tax.
Average Tax Rate
The proportion of total income that an individual or corporation pays in taxes, calculated by dividing the total taxes paid by total income.
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