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Give Reasons Or Explain the Following Statement: It is More Appropriate to Tax the Rich in Excess than the Poor. - Economics

Give reasons or explain the following statement: 

It is more appropriate to tax the rich in excess than the poor. 

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Solution

 It is more appropriate to tax the rich in excess than the poor as they are in a position to give more out of their income than the poor ones. This can be done by levying tax on luxurious items rather than on the basic necessity goods.

Concept: Taxable Income
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