progressive tax

progressive tax definition - legal

n

  1. A tax that increases in rate as the amount of money being taxed increases; for example, $20,000 is taxed at
  2. percent, $20,001 to $45,000 is taxed at 10 percent, and so on.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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