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Federal Excise Tax
A tax imposed by the federal government on the sale of specific goods and services, such as tobacco and alcohol.
Benefits-received Principle
A taxation theory suggesting that individuals should pay taxes in proportion to the benefits they receive from government services.
Taxation
A process by which governments finance their expenditure by imposing charges on citizens and corporate entities.
Regressive Tax
A tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases, disproportionately impacting those with lower incomes.
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