Progressive income tax

The more money you make, the higher taxes you pay.

Antonym: flat tax

We need to make taxation more progressive and raise taxes on the wealthy.

by The Drafted's guitar player September 6, 2005

Obama tax cuts

The group of tax cuts which took effect on January 1, 2011, passed by Congress and made law by President Barack Obama, extending and augmenting the expired Bush tax cuts, and reducing federal taxation to the lowest level in several decades, and promising an enormous debate in 2012 about whether to extend the Obama tax cuts.

I am waiting to see if my tax payments really drop from the Obama tax cuts.

by Tao Cha Ching January 15, 2011

goth taxes

Taxes that cut themselves. Usually observed during audits of high ranking politicians.

Barry: Tom, what the fuck were you thinking?
Tom: They were goth taxes, they cut themselves.
Barry: I need a smoke.
Tom: I need a better accountant.

by beer thirty February 5, 2009

better place tax

A figurative tax that's imposed on people who do a job that benefits society, or as the "Silicon Valley" cliche goes, "makes the world a better place." Because more people want to do meaningful jobs than worthless ones, the pay tends to be lower. The opposite is the douchebag bonus, where someone makes more money for doing a job that contributes zero or negative value to society.

Jimmy works as as a researcher who has made significant advances in cancer treatment, but he only makes $70k a year because of the better place tax. Meanwhile, Chazz the hedge fund manager gets a huge douchebag bonus and managed to rake in $10 million last year even though all he did was lose a bunch of rich people a bunch of money.

by Nicholas D July 25, 2015

marginal tax rate

The tax rate at which the last dollar of income is taxed.

High marginal tax rates are a disincentive towards work and productivity.

by Alan Greenspan May 7, 2003

Engineered Tax Services

Using tax credits to buy down tax payments due. A person has a tax credit but wants cash so he is willing to sale the tax credit to someone who owes taxes and desires to buy the tax credit at a deep discount.

Teddy did an Engineered Tax Services. He owed $2,500 in taxes but he was able to lower his taxes due down to $200 by buying tax credits at a deep discount from a film company willing to sell their credits for cash.

by TaxReformExpert February 19, 2022

Shrimple tax return

Can be used as a substitute for “simple tax return”, or can refer to tax returns with a shrimp.

I had reported my incomes via shrimple tax return!

by TheDickSwordz March 31, 2023