Explain the reasons why governments impose taxes and considerwhether an increase in income tax is fairer than an increase in salestaxes.

Question

Explain the reasons why governments impose taxes and considerwhether an increase in income tax is fairer than an increase in salestaxes.
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Solution 1

Governments impose taxes for several reasons:

  1. Revenue Generation: The primary reason for taxation is to accumulate funds for the functioning of the government machinery. This includes infrastructure development, defense budget, salaries of government employees, etc.

  2. Redistribution of Wealth: Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob

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