(taxation) The principle that taxes should vary according to an individual's level of wealth or income.
Progressive taxes attempt to reduce the tax burden of people with a lower ability-to-pay.
Other Word Forms of Ability-to-pay
abilities to pay
Ability-to-pay Sentence Examples
Along with this view has arisen the question whether the burden of taxation should not be progressive - the proportion of the sum taken by the state from the tax-payers increasing with the wealth of the individual; because ability to pay taxes is assumed to be not in proportion to, but to increase with the size of, the income.
Council Tax Liberal Democrats believe in fair, progressive taxation based on the ability to pay.
The hypothetical tenant in an ability to pay scenario is likely to have no profit motive.
Specifically, it is a good idea for those who have the ability to pay off a lump sum of debt in hand.
So shrewdly analyze your ability to pay off debt, then examine many of the introductory offers for the lowest possible APR for the longest period of time, in addition to the parameters of the APR hike at the end of the promotional period.