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Punitive Tax

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Punitive Tax
1. A tax imposed to discourage a behavior. For example, retirement plans usually have excise taxes placed upon them if one makes a withdrawal prior to a certain age.

2. An extraordinarily high tax. For example, a government theoretically could impose a tax of 99% on all income over $20,000. There is no consensus as to what qualifies as a punitive tax.


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An MOF official remarked that vacant-lot tax is a punitive tax, which can amount to two to five times land price tax, set at 5% now, according to the decision of municipal governments.
LSU Professor projects thousands of lost jobs, hundreds of billions in lost economic activity from proposed punitive tax hikes on U.
Politicians seeking votes in the North East should tell electors how they will help safeguard air routes and prevent punitive tax rises from damaging trade.
 
 
 
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