Supertax (Noun)
Meaning
An additional tax on certain kinds of income that has already been taxed.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The wealthy entrepreneur was disappointed to discover he would have to pay a supertax on his income from property investments.
- Critics of the new policy argued that the supertax would deter foreign investors and hinder the country's economic growth.
- In addition to the standard income tax rate, athletes who earned more than a certain amount were required to pay a supertax.
- The proposed supertax on high-income earners sparked heated debate among politicians and economists.
- Some proposed introducing a temporary supertax on billionaires to fund social welfare programs and reduce the wealth gap.