Taxation is a high interest point in the world of economics. There are several forms and
types. Taxes follow a hierarchy in society: local, state, federal. People have various opinions of
how society should be taxed: proportional, progressive, regressive. No one likes paying taxes,
but, taxes are an essential part of the function of society as taxes fund governments.
There are several characteristics of taxation which we should understand.____________
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There are several different forms of taxation. __________________________________
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There are three distinctive types of taxation: Proportional, progressive, and regressive.
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I believe_________________________________________________________________
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