Progressive tax
Progressive tax is a tax system in which the higher one's income, the larger the percentage paid in taxes.
Definitions
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Progressive tax. A tax system in which the higher one's income, the larger the percentage paid in taxes.
According to Principles of Economics by Timothy Taylor (3rd edition),
- Progressive tax. A tax that collects a greater share of income from those with high incomes than from those with lower incomes.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
