Examlex
Fainting:
Consumption Tax
A tax on the purchase of goods or services, levied at the point of sale, designed to tax spending rather than income or savings.
Encourage Consumption
Measures or strategies aimed at increasing consumer spending and demand for goods and services.
Federal Income Tax
A tax levied by the federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.
Ability-To-Pay Principle
A taxation principle that suggests taxes should be levied according to an individual's or entity's ability to pay, favoring a more equitable distribution of the tax burden.
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