Glossary-Taxes

__**Glossary-Taxes:**__

required of persons or businesses within the domain of that government. [|Internet Public Library] [|Americans For Tax Reform] [|Princeton Word Net] [|Governing] [|Deardorff] [|Globe And Mail] [|EcoEdLink] [|EcoEdLink] [|Freedom Works] [|EcoEdLink] [|Governing] [|Aarnold] __[|Education Report]__ [|WCIT]
 * Taxes** - Contribution for the support of government or its larger social purposes,
 * Tax Reform** - a movement to limit the government's role to control individual's taxes.
 * Tax Policy** - a program for setting taxes.
 * Tax Burden** - is a measure of the taxes paid in a state relative to another constant factor, such as total personal income, for example.
 * Tax Break** - any provision of the tax code, such as a tax credit or tax deduction, that reduces the amount of tax that a firm or individual will pay, perhaps in return for behavior that the government wishes to encourage.
 * Tax Deduction** - a reduction of total income before the amount of income tax payable is calculated.
 * Income Tax** - payments made by individuals and corporations to the federal government (and to some state and local governments) based on income received (both earned and unearned).
 * Social Securities Tax** - a tax levied on employers and employees to finance public Social Security benefits.
 * Flat Rate Tax** - a simple flat tax of one low rate with no deductions or special interest loopholes.
 * IRS** - Internal Revenue Service; The government agency that collects federal income taxes.
 * Tax Trade Off** - refers to losing one quality or aspect of something in return for gaining another quality or aspect. It implies a decision to be made with full comprehension of both the upside and downside the taxes.
 * Tariff** - A publication containing the rates, charges, classification rating, rules and regulations for a common carrier. It may be in the form of a rate tariff, classification of articles or commodities, or a tariff containing rules and regulations or incidental charges.
 * Progressive Taxation** - A progressive tax, or graduated tax, is a tax that is larger as a percentage of income for those with larger incomes. It is usually applied in reference to income taxes, where people with more income pay a higher percentage of it in taxes. The term progressive refers to the way the rate progresses from low to high, but over time it has become confused with modern.
 * Regressive Taxation** - a tax such as a sales tax that applies equally to every purchaser but which results in taking a larger percentage of income from a low-income person than from a high-income person