Regressive Tax: Definition, Pros, Cons & Examples
A regressive tax is where the tax rate falls for those who are in higher income brackets.
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Taxation
Taxation is how government brings in money to fund its public expenses.
Progressive Tax: Definition, Pros, Cons & Examples
A Progressive tax is where taxes increase in line with incomes.
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Excise Tax: Definition, How it Works & Examples
An excise tax is a tax that is levied on specific products, usually in order to create a socially optimal outcome.
Tariffs: Definition, Types & Example
A tariff is a tax that the government imposes on imported goods.