taxes

What is progressive taxation?

 

What is progressive taxation?

The Bankrate.com financial term of the day is: "progressive taxation."

The more you make, the more you're taxed. That's the idea behind progressive taxation, which the U.S. tax system follows. As your income reaches certain thresholds, all the money you make above the threshold is taxed at a higher rate.

With progressive taxation, your tax hit becomes progressively higher as your income climbs.

For answers to all of your tax questions, visit the Taxes section at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CAR & MONEY NEWSLETTER

Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.

advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Pumpkin-carving for car lovers

Car lovers will love carving a cool car pumpkin from a template created by three automotive aftermarket companies.  ... Read more


Connect with us