Low taxes
Definition
Low taxes refer to reduced tax rates or smaller amounts taken from income, property, or goods by the government for public use.
Related terms
Laissez-faire: An economic theory that advocates minimal interference by government in the economy; often associated with low taxes.
Supply-side Economics: Economic theory suggesting lower tax rates will stimulate economic growth as businesses and individuals can reinvest their income into the economy.
Tax Cuts and Jobs Act of 2017: A major tax reform passed during President Trump's administration that significantly lowered corporate and individual tax rates.
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Study guides (1)
AP US History - 4.2 The Rise of Political Parties and the Era of Jefferson
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About Us
About Fiveable
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Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Cram Events
Merch Shop
Crisis Text Line
Help Center
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.