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Simple English definitions for legal terms

graduated tax

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A quick definition of graduated tax:

A graduated tax is a type of tax where the amount you pay depends on how much money you make. If you make more money, you pay a higher percentage of your income in taxes. This is different from a flat tax, where everyone pays the same percentage regardless of how much money they make. Taxes are charges that the government collects from people, businesses, and property to pay for things like schools, roads, and public services.

A more thorough explanation:

A graduated tax is a type of tax where the rate of taxation increases as the income or value being taxed increases. This means that people who earn more or have more valuable property will pay a higher percentage of their income or property value in taxes than those who earn less or have less valuable property.

For example, in a country with a graduated income tax, someone who earns $50,000 per year might pay a tax rate of 20%, while someone who earns $100,000 per year might pay a tax rate of 30%. This is because the graduated tax system is designed to be more fair, as it places a greater burden on those who can afford to pay more.

Another example of a graduated tax is an estate tax, which is a tax on the value of a deceased person's estate. In a graduated estate tax system, the tax rate increases as the value of the estate increases. This means that people with larger estates will pay a higher percentage of their estate value in taxes than those with smaller estates.

graduated-payment mortgage | gradus

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awman i was hopign to come home to a ucla wave
is it too late? its 2pm there
OMG U MEAN A NEW ALBUM OMGG NOW I CAN BE DISTRACTED AGAIN
shaquilleoatmeal
17:14
Nah not a Garmin, Apple watch
We not gonna see splitterus for 4 hrs
HAHAHAHHA
MRS CLITTERUS
JumpySubsequentDolphin
17:17
I’ve barely gotten through chromakopia I can’t deal with another album drop rn
JumpySubsequentDolphin
17:17
this is so stressful
wait but actually is there no wave today
i dont really like chromakopia that much i also havent gotten thru it
JumpySubsequentDolphin
17:18
idk splitty :(
if there's no gtown today that would be so cruel
surely gtown 12 minutes from now
I'm a chromokopia fan, but I don't like Tyler outside of that album
theres the spirit!!
JumpySubsequentDolphin
17:18
@SplitterusClitterus: did you like cmiygl? that’s one of my all time fave albums
Kind of a controversial take. I like experimental albums a lot
babycat
17:19
liking chromakopia and not Tyler's other stuff is crazy to me
JumpySubsequentDolphin
17:19
perhaps im biased bc i saw him live when he performed cmiygl for the first time
i think it is a controverisal take and i usually do too, i also think im giving an opinion too early cuz i habvent finished it at all
yeah seeing him live prob makes it a million times better
Thought I was dead is great raps
2024 such a great year for rap
JumpySubsequentDolphin
17:21
i like noid
even outside the beef. Noid is great too
JumpySubsequentDolphin
17:22
boogies album was the worst ever
JumpySubsequentDolphin
17:22
and i LOVE boogie
JumpySubsequentDolphin
17:23
like i would do anything for one chance w that man but better off alone and me vs myself were both not good
He's never really been my style tbh
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