Tax: a compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.
- As you income increases, your tax rate also increases.
- Our Federal Income Tax is progressive.
- As your income goes up, the tax has less of an effect on you.
- This tax hurts the lower class the most.
- Our Sales Tax is regressive.
- Everyone pays the same tax rate regardless of your income.
- Our State Tax is Flat- everyone pays 5% of their income.
- Specific tax on items that the government really does not want people to use.