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What was a crucial advantage that the English colonies had over other European colonists?
Excise Taxes
Taxes applied to specific goods, services, or transactions, often included in the price of products like tobacco, alcohol, and gasoline, aimed at reducing their consumption or raising revenue.
General Sales Tax
A tax imposed on sales transactions, applied to the sale of most goods and some services, and usually calculated as a percentage of the sales price.
Marginal Tax Rate
Refers to the rate at which the last dollar of income is taxed, indicating the impact of an additional dollar of income on tax liability.
Marginal Tax Rate
is the rate at which the next dollar of income will be taxed, reflecting the percentage of additional income that is paid in tax.
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