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Excess profits tax , EXCESS PROFITS TAX
EXCESS PROFITS TAX. The Excess Profits Tax, a predominantly wartime fiscal instrument, was designed primarily to capture wartime 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… 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… Progressive Tax , A progressive tax system is one which assesses a higher percentage rate of taxation as income levels or income brackets increase. The U.S. federal in… Taxation , Governments need money so they can provide important services to their citizens. Such services can include national defense from foreign threats, pol…
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NEARBY TERMS
pretax