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Tax What is Tax?
A tax is an involuntary fee paid by individuals or businesses to a state, or to functional equivalents of a state, including tribes, secessionist movements or revolutionary movements. How does it work? The resource taken from the public through taxation is always somewhat greater than the amount which can be used by the government. The difference is called compliance cost, and includes for example the labour cost and other expenses incurred in complying with tax laws and rules. The collection of a tax in order to spend it on a specified purpose, for example collecting a tax on alcohol to pay directly for alcoholism rehabilitation centres, is called hypothecation. The practice is often disliked by finance ministers, since it reduces their freedom of action. Some economic theorists consider the concept to be intellectually dishonest since in reality money is fungible. Furthermore, it often happens that taxes or excises initially levied to fund some specific government programs are then later diverted to the government general fund. In some cases, such taxes are collected in fundamentally inefficient ways, for example highway tolls.Related Keywords Tax lawyer, payroll tax, tax attoney, income tax, retirement tax, capital gains tax, corporation tax, poll tax, sales tax, property taxes, transfer taxes, inheritance tax, tax exemption. Recommended Websites WorkOnline4PayGet Paid To Work At Home And Have Fun Too! Receive A Paycheck For Things You Already Do Everyday! PaidSurveyOnlineWhere Your Opinion Is Worth A Paycheck. Sit Back, Relax, and Get Paid for What You Think!! |
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