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degressive tax

degressive tax degressive tax ➔ tax¹

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degressive tax UK US noun [C or U]

► TAX a type of tax in which people with high incomes pay less tax as a percentage of their income than those people with low incomes: »Degressive taxes redistribute wealth from the bottom to the top.

→ Compare PROGRESSIVE TAX(Cf. ↑progressive tax), REGRESSIVE TAX(Cf. ↑regressive tax)

Financial and business terms. 2012.