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Progressive Tax

Categories: Tax, Metrics

The wealthier you are, the harder you get dinged with a progressive tax. The rates increase as your wealth does.

Income tax is a good example of this: If you don’t make a ton slinging lattes, you get a lower tax rate. If you make a cozy seven figures as a lawyer, you get charged at a higher rate.

Find other enlightening terms in Shmoop Finance Genius Bar(f)