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Most business schools today focus on teaching students how to earn short-term, immediate profits.
Federal Inheritance Tax
A tax imposed by the federal government on the transfer of estate from a deceased person to their beneficiaries or heirs.
General Sales Tax
A tax imposed on sales transactions, usually calculated as a percentage of the selling price of goods and services.
Ability-to-pay Philosophy
A principle of taxation that argues taxes should be levied according to a taxpayer's capacity to pay, focusing on fairness in the distribution of tax burdens.
Progressive Income Tax
A tax system where the tax rate increases as the taxable amount or income of the taxpayer increases.
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