Difference between revisions of "Progressive taxation"
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| − | '''Progressive taxation''' is a typically [[Liberal]] [[tax]] policy whereby the rich are taxed more heavily than the poor. They are placed into ''progressively higher'' [[tax brackets]]. The name is a technical economic term and has nothing to do with causing progress. | + | '''Progressive taxation''' is a typically [[Liberal]] [[tax]] policy (though it deserves note that [[Adam Smith]], an early proponent of laissez-faire economy, suggested that small amounts of progressive taxation could be beneficial to society) whereby the rich are taxed more heavily than the poor. They are placed into ''progressively higher'' [[tax brackets]]. The name is a technical economic term and has nothing to do with causing progress. |
==See Also== | ==See Also== | ||
Revision as of 01:43, February 14, 2012
Progressive taxation is a typically Liberal tax policy (though it deserves note that Adam Smith, an early proponent of laissez-faire economy, suggested that small amounts of progressive taxation could be beneficial to society) whereby the rich are taxed more heavily than the poor. They are placed into progressively higher tax brackets. The name is a technical economic term and has nothing to do with causing progress.