Tax on income or tax on commodities. Which of the two affects the rich more and which affects the poor more? Explain with reasons.
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Clarifying the Primary Purpose of Taxation.
Tax assessment is a methods by which governments fund their use by forcing charges on subjects and corporate elements.
Tax reductions increment family unit request by expanding laborers' salary. The principle reason for tax assessment is to aggregate assets for the working of the administration apparatuses.
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Tax on income affects the rich more. Income tax is levied on people who have income above a particular threshold. They will be more affected by income tax as higher income results in the levy and collection of higher taxes from them. ... Thus the poorer sections are affected by commodity taxes more than income taxes.
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