Examlex
Identify and give the historical significance of each of the following terms, events, and people in a paragraph or two.
-Lyndon Johnson said that economic freedom meant more than equal opportunity. Explain what he meant by that statement and how his Great Society program attempted to redefine the relationship between freedom and equality.
Tax Burdens
The total amount of taxes imposed on an individual or business by a government entity.
Ability to Pay
A principle suggesting that those with greater financial resources should contribute more in taxes.
Economic Income
The total amount of monetary or other benefits received over a period, including wages, rents, interest, and profits, considering both realized and unrealized changes in value.
Taxable Income
The portion of an individual's or entity's income that is subject to taxation by the government after deductions and exemptions.
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