More From encyclopedia.com
Income Tax , An income tax is a portion of an individual or business’s earnings that is collected by the government. The income tax is charged, or levied, as a pe… Regressive Tax , A tax with a rate that decreases as the taxpayer's income increases.
The result of a regressive tax is that the lower-income taxpayer pays a larger p… Tax Rates , FLAT TAX PROVISION (ISSUE)
A flat tax taxes everybody at the same tax rate. A graduated tax taxes at different tax rates. In the late-1990s flat tax… Trust Companies , In 1898 the U.S. Supreme Court declared the income tax unconstitutional. It had been levied as part of the Wilson–Gorman Tariff Act (1894) and taxed… Tax Reform Act , The Tax Reform Act of 1986 (100 Stat. 2085, 26 U.S.C.A. §§ 47, 1042) made major changes in how income was taxed. The act either altered or eliminated… Taxation , Governments need money so they can provide important services to their citizens. Such services can include national defense from foreign threats, pol…
You Might Also Like
NEARBY TERMS
f.i.t.w.