progressive tax Sentence Examples
- A progressive tax system imposes higher tax rates on individuals with higher incomes.
- Under a progressive tax structure, the tax rate increases as income levels rise.
- Many countries employ a progressive tax system to redistribute wealth and promote social equity.
- The concept of a progressive tax dates back to the early 20th century and has been widely adopted by modern governments.
- Progressive tax rates are designed to ensure that those who can afford to pay more contribute a larger share of their income to taxes.
- Advocates of a progressive tax system argue that it helps reduce income inequality by taxing the wealthy more heavily.
- Opponents of progressive taxation argue that it discourages investment and economic growth by penalizing success.
- The implementation of a progressive tax system often involves multiple tax brackets, with each bracket corresponding to a different income range and tax rate.
- The United States utilizes a progressive tax system, with tax rates ranging from 10% to 37% based on income level.
- Adjustments to progressive tax rates are periodically made through legislative changes to account for economic shifts and changing fiscal priorities.
progressive tax Meaning
Wordnet
progressive tax (n)
any tax in which the rate increases as the amount subject to taxation increases
Synonyms & Antonyms of progressive tax
No Synonyms and anytonyms found
FAQs About the word progressive tax
any tax in which the rate increases as the amount subject to taxation increases
No synonyms found.
No antonyms found.
A progressive tax system imposes higher tax rates on individuals with higher incomes.
Under a progressive tax structure, the tax rate increases as income levels rise.
Many countries employ a progressive tax system to redistribute wealth and promote social equity.
The concept of a progressive tax dates back to the early 20th century and has been widely adopted by modern governments.
