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Finance Glossary

Just call us Bond. Amortized bond.

Over 700 finance terms, Shmooped to perfection.

Progressive Tax

Definition:

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: Make less than a given amount, and the IRS lets you keep it all. Make more than a given amount, your income tax rate increases more and more.

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