Taxes And Taxation Flashcards
(7 cards)
1
Q
The idea that a tax system should be fair
A
Tax equity
2
Q
The allocation of a burden of a tax between consumers and producers
A
Tax incidence
3
Q
A loss of productivity or economic well-being for which there is no corresponding gain
A
Deadweight loss
4
Q
A percentage that is levied on the value of whatever is being taxed, such as an income or property
A
Tax rate
5
Q
A tax takes the same share of an income at all income levels
A
Proportional tax
6
Q
A tax that takes a larger share of income as income increases
A
Progressive tax
7
Q
A tax that takes a smaller share of income as income increases
A
Regressive tax
