Ability To Pay
Meaning of Ability To Pay in the United States Tax System
This concept states that tax rates should vary according to different levels of wealth (assets such as real estate, vehicles, shares, bonds and savings accounts) or different levels of income (such as salaries, interests and dividends). The progressive income tax is an example of this concept.
Popular U.S. Tax Words
What does Ability to pay mean in American Law?
The definition of Ability to pay in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:
ability to pay [debts]
See ability; insolvency.
Browse
You might be interested in these references tools:
| Resource | Description |
|---|---|
| Ability To Pay in the Dictionary | Ability To Pay in our legal dictionaries |
| Related topics | Browse topics from the World Wiki Encyclopedia of Law |
| Browse the Legal Thesaurus | Find synonyms and related words of Ability To Pay |
| Legal Maxims | Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law |
| Legal Answers (Q&A) | A community-driven knowledge creation process, of enduring value to a broad audience |
| Related topics | Ability To Pay in the World Encyclopedia of Law |
What is Ability To Pay?
Vocabularies (Semantic Web Information)
| Resource | Description |
|---|---|
| Topic Map | A group of names, occurrences and associations |
| Topic Tree | A topic display format, showing the hierarchy |
| Sitemap Index | Sitemap Index, including Taxonomies |
| https://legaldictionary.lawin.org/ability-to-pay | The URI of Ability To Pay (more about URIs) |
United States Tax Concept of Ability to Pay
Ability to Pay is a principle of taxation. Different taxpayers ability to pay differs vastly. Generally a taxpayer with less ability to pay pays less tax, because his/her amount of income (wages, interests, profits) and assets (houses, cars, stocks, savings accounts) are less than other taxpayers. Individuals who earn more income pay more tax, not because they use more government goods and services but because taxpayers who earn more have the ability to pay more. Our progressive tax, or higher tax rates for people with higher incomes, is based on this principle.
Meaning of Ability to Pay in Spanish
Description/ translation of ability to pay into Spanish: poseer medios suficientes (para contratar a un abogado)[1]
Note: for more information on related terms and on the area of law where ability to pay belongs (criminal procedure law), in Spanish, see here.
Notes and References
- Translation of Ability to Pay published by Antonio Peñaranda
Leave a Reply