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regressive tax |
Also found in: Legal, Financial, Wikipedia, Hutchinson | 0.68 sec. |
regressive taxTax levied at a rate that decreases as its base increases. Regressivity is considered undesirable because poorer people pay a greater percentage of their income in tax than wealthier people. Consumption taxes and sales taxes are usually considered regressive because of their set rate structures. Tobacco, gasoline, and liquor sales taxes, all major sources of tax revenue, are the most regressive taxes. In an effort to limit regressivity, a number of U.S. states have exempted medicine and grocery items from sales tax. Although the property tax is sometimes judged regressive because poorer people spend a larger percentage of their income on housing than wealthier people, property taxes are nonetheless effective in redistributing wealth from higher to lower income groups. See also progressive tax. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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They are poor not because they're lazy but because they are paid poverty wages while burdened by high prices, high rents, and regressive taxes. The report indicates that municipalities (such as Montreal, Toronto and Vancouver) often have more regressive taxes because they tend to have relatively unequal income distributions, and/or relatively homogeneous housing prices. No, these fee increases (never call them taxes, because if we called them taxes they'd be regressive taxes, hitting the little guy the hardest) are necessary because the Northridge Earthquake cracked so many pipes under the Valley that they are spilling sewage on average twice a day. |
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