There is a belief that cutting taxes for the rich can result in economic benefits will result better for the poor is most commonly known as the Trickle down economics.
A tax is a amount that is payable by the citizens of a society to the ruling government who uses this tax amount to spend on the well being of the society. A perfect balance of the tax amount/rate is important in order to help the society and to keep the citizens satisfied.
The tax is imposed on the companies and the individuals who earn more than the given threshold limit
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