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Taxation in reducing poverty, income & wealth inequality - Coggle…
Taxation in reducing poverty, income & wealth inequality
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Progressive taxes
Income tax
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As income rises, a higher percentage of this income is taxed
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Property tax
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The higher the value of a person's home/property, the higher amount of tax is paid
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A small percentage tax on the wealth of the super-rich in an economy could generate significant funds
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Corporate taxes
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Reality
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Large companies can employ global tax experts to help minimise their tax commitments & take advantage of different tax systems
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