Discuss Why the Creation of Credit Can Become Complicated

question 60

Essay

Discuss why the creation of credit can become complicated.

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Definitions:

Social Security Benefits

Social Security Benefits are payments made to eligible individuals, including retirees, disabled persons, and survivors, funded by social security taxes.

Transfer Payment

Money distributed by the government to individuals without any requirement for those individuals to provide goods or services in return.

Excise Taxes

Taxes imposed on specific goods, services, or transactions, typically aimed at discouraging their consumption or raising revenue for specific purposes.

Per-Unit Taxes

Taxes that are charged on a per-item basis, often levied on specific goods or services, such as gasoline or cigarettes.