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principle that those who receive the benefits of what taxes pay for should pay the most in taxes
principle that those with higher incomes should pay more in taxes than those with lower income
a tax for which the percentage of income paid in taxes remains the same for all income levels
adjustable rate mortgage
has an interest rate that increases or decreases during the life of the loan
renegotiable rate mortgage
renegotiated loan where the maturity is fixed but the interest rate, and hence the monthly payment, is renegotiated periodically
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