Define and State the Historical Significance of the Following

question 18

Short Answer

Define and state the historical significance of the following:
-covenant

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Definitions:

Excise Taxes

Taxes imposed on the sale of specific goods and services, such as tobacco, alcohol, and gasoline, usually aimed at discouraging their consumption or generating revenue.

Regressive Tax

A tax that takes a larger percentage from low-income earners than from high-income earners, considered regressive because it affects those who are less able to pay.

Proportional Tax

A tax system where the tax rate is fixed and the same for all income levels.

Progressive Tax

A taxation system where the tax rate increases as the taxable amount or income of the individual or entity increases.