Give reasons or explain the following statement:
It is more appropriate to tax the rich in excess than the poor.
Advertisement Remove all ads
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
Is there an error in this question or solution?
Advertisement Remove all ads
APPEARS IN
Advertisement Remove all ads
Advertisement Remove all ads