Term
Proportional Tax
[Poverty, Inequality & Discrimination] |
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Definition
| The same percentage of the tax base regardless of the tax payers' income or wealth |
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Term
Progressive Tax
[Poverty, Inequality & Discrimination] |
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Definition
| Taxes a large share of the income of high-income taxpayers than of low-income tax payers |
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Term
Regressive Tax
[Poverty, Inequality & Discrimination] |
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Definition
| Takes a smaller shave of the income of high income taxpayers than of low income tax payers |
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Term
Poverty Threshold
[Poverty, Inequality & Discrimination] |
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Definition
| The annual income below which a family is considered poor |
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Term
Poverty Rate
[Poverty, Inequality & Discrimination] |
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Definition
| The percentage of the population with incomes below the poverty threshold |
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Term
Negative Income Tax
[Poverty, Inequality & Discrimination] |
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Definition
| A program that supplements the income of low-income working families |
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Term
Equity vs. Efficiency
[Poverty, Inequality & Discrimination] |
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Definition
| (In a well designed system) There is a trade off between equity and efficiency. The system can be made more efficient only by making it less fair, and vice versa |
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