taxation schedulea schedule that depicts the relationship between TAXATION receipts and the level of NATIONAL INCOME. Under PROGRESSIVE TAXATION, the schedule has a positive slope, that is, tax receipts rise as the level of income rises (see Fig. 181 ). Likewise, receipts from expenditure taxes will be greater as the level of spending rises. See also FISCAL DRAG, PROPENSITY TO TAX.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005