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In at least two cultures discussed in the text,wealth is a factor in determining race.Explain how money can have an effect on racial determination,a supposedly biological classification,and provide an example from class.
Income Tax Rate
The fraction of income that individuals or businesses must pay as taxes.
Statutory Tax Rate
The tax rate prescribed by law that applies to income, sales, or other taxable activities.
Effective Tax Rate
The mean rate at which a person or company pays taxes, determined by dividing the total amount of tax paid by the taxable earnings.
Tax Planning
The analysis and arrangements of a financial situation or business to minimize tax liability.
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