Budgets Do Not Take Account of Resource Implication the Focus

question 8

True/False

Budgets do not take account of resource implication the focus is on money.

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Definitions:

Vertical Equity

A principle of taxation that posits taxpayers with higher incomes should pay more in taxes than those with lower incomes, based on the ability to pay.

Tax Burdens

The total amount of taxes paid by an individual or entity, often expressed as a percentage of income or as an absolute amount.

Governmental Services

Services provided by the government to its citizens; these can include education, healthcare, and public safety.

Ability-to-Pay Principle

A tax principle suggesting that taxes should be levied based on the taxpayer's ability to pay, where those with higher income or wealth should pay more taxes.