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U.S. Income Tax
A tax imposed by the U.S. government on the income earned by individuals, corporations, trusts, and other legal entities.
Saving
The process of setting aside a portion of current income for future use or for investment purposes.
Consumption Tax
Taxes applied on spending on goods and services, such as sales tax or Value Added Tax (VAT).
Income Tax
A tax levied by governments on individuals' or entities' income. The rate can vary based on income levels or earnings.
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