PROGRESSIVE TAX


Meaning of PROGRESSIVE TAX in English

A tax that tends to take a smaller percentage of the incomes of lower income citizens compared to the percentage it takes of the incomes of wealthier citizens. Example: an income tax with steeper rates for those in higher income brackets, or a special sales tax levied only on expensive "luxuries" like yachts or jewelry.

[See also: regressive tax ]

English glossary of political economy terms.      Английский глоссарий политико-экономических терминов.