Definitions for progressive tax
pro·gres·sive tax

Princeton's WordNetRate this definition:0.0 / 0 votes

1. progressive tax, graduated taxnoun

   any tax in which the rate increases as the amount subject to taxation increases

WikidataRate this definition:0.0 / 0 votes

1. Progressive tax

   A progressive tax is a tax in which the tax rate increases as the taxable base amount increases. "Progressive" describes a distribution effect on income or expenditure, referring to the way the rate progresses from low to high, where the average tax rate is less than the marginal tax rate. It can be applied to individual taxes or to a tax system as a whole; a year, multi-year, or lifetime. Progressive taxes attempt to reduce the tax incidence of people with a lower ability-to-pay, as they shift the incidence increasingly to those with a higher ability-to-pay. The opposite of a progressive tax is a regressive tax, where the relative tax rate or burden increases as an individual's ability to pay it decreases. The term is frequently applied in reference to personal income taxes, where people with more income pay a higher percentage of that income in tax than do those with less income. It can also apply to adjustment of the tax base by using tax exemptions, tax credits, or selective taxation that creates progressive distribution effects. For example, a sales tax on luxury goods or the exemption of basic necessities may be described as having progressive effects as it increases a tax burden on high end consumption or decreases a tax burden on low end consumption respectively.

Matched Categories

1. • Tax

How to pronounce progressive tax?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say progressive tax in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of progressive tax in Chaldean Numerology is: 1

2. Pythagorean Numerology

   The numerical value of progressive tax in Pythagorean Numerology is: 9

Examples of progressive tax in a Sentence

1. Bernie Sanders:

   At a time of massive wealth and income inequality, we need a progressive tax system in this country which is based on ability to pay, it is not acceptable that a number of major profitable corporations have paid zero in federal income taxes in recent years, and that millionaire hedge fund managers often enjoy an effective tax rate which is lower than the truck drivers or nurses.

2. Vice President Joe Biden:

   We need -- not just in my country, but in other countries -- a more progressive tax code. Not confiscatory policy, not socialism, a tax code, everybody pays proportionally a fair share. This is not meant to penalize everybody.

3. Bernie Sanders:

   We need a progressive tax system in this country that is based on the ability to pay, if we are serious about reforming the tax code and rebuilding the middle class, we have got to demand that the wealthiest Americans and largest corporations pay their fair share in taxes.

4. Treasurer Ford Scudder:

   The revenue declines have been largest in those states like ours with highly progressive tax systems, and smallest in states with flatter tax structures.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=progressive tax
2. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=progressive tax