Progressive tax system

A tax system wherein the average tax rate increases for some increases in income but never decreases with an increase in income. The New York Times Financial Glossary

Financial and business terms. 2012.

Look at other dictionaries:

  • progressive tax system — A tax system that taxes the wealthy at a higher percentage rate than the less wealthy. Bloomberg Financial Dictionary …   Financial and business terms

  • progressive tax — ➔ tax1 * * * progressive tax UK US noun [C, usually singular] TAX ► a tax in which the rate of tax is higher on larger amounts of money: »In a progressive tax system, rich people pay a higher percentage of their income as taxes than do poor… …   Financial and business terms

  • Progressive tax — A progressive tax is a tax imposed so that the tax rate increases as the amount subject to taxation increases. [ [http://www.merriam webster.com/dictionary/Progressive Webster] (4b): increasing in rate as the base increases (a progressive tax)] [ …   Wikipedia

  • Progressive Tax — A tax that takes a larger percentage from the income of high income earners than it does from low income individuals. The United States income tax is considered progressive: in 2010, individuals who earned up to $8,375 fell into the 10% tax… …   Investment dictionary

  • progressive tax — noun any tax in which the rate increases as the amount subject to taxation increases • Syn: ↑graduated tax • Hypernyms: ↑tax, ↑taxation, ↑revenue enhancement * * * progressive tax UK US noun [singular] …   Useful english dictionary

  • progressive tax — pro,gressive tax noun singular a tax system in which people who earn a lot of money pay a larger percentage of their income in tax than people who earn less …   Usage of the words and phrases in modern English

  • progressive tax — UK / US noun [singular] economics a tax system in which people who earn a lot of money pay a larger percentage of their income in tax than people who earn less …   English dictionary

  • progressive tax — Tax levied at a rate that increases as the quantity subject to taxation increases. Designed to collect a greater proportion of tax revenue from wealthy people, progressive taxes reflect the view that those who are able to pay more should carry a… …   Universalium

  • progressive tax — A *taxation system in which *tax rates increase with higher levels of taxable income. Contrast *regressive tax …   Auditor's dictionary

  • Tax bracket — Tax brackets are the divisions at which tax rates change in a progressive tax system (or an explicitly regressive tax system, although this is much rarer). Essentially, they are the cutoff values for taxable income mdash; income past a certain… …   Wikipedia

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