Explain social disparity and excessive taxation.
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Social Disparity
Social inequality refers to disparities in the distribution of economic assets and income as well as between the overall quality and luxury of each person's existence within a society, while economic inequality is caused by the unequal accumulation of wealth; social inequality exists because the lack of wealth in ...
Excessive Taxation
In economics, the excess burden of taxation, also known as the deadweight cost or deadweight loss of taxation, is one of the economic losses that society suffers as the result of taxes or subsidies. Excess burdens can be measured using the average cost of funds or the marginal cost of funds (MCF).
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