© 2015 Shmoop University, Inc. All rights reserved.

Finance Glossary

Just call us Bond. Amortized bond.

Over 700 finance terms, Shmooped to perfection.

Progressive Tax


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.