PROPORTIONAL TAX
\pɹəpˈɔːʃənə͡l tˈaks], \pɹəpˈɔːʃənəl tˈaks], \p_ɹ_ə_p_ˈɔː_ʃ_ə_n_əl t_ˈa_k_s]\
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This is a tax scheme that sees evry individual pay the same rate of tax regardless of their earnings. It is also known as a flat tax. For example each person will pay 10% tax regardless of whether they earn $100 a week or $1000 per week.
By Henry Campbell Black
Word of the day
tinctura quininae ammoniata
- A preparation made by dissolving quinin sulphate in alcohol [Br. Ph.].