tax


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tax

a levy imposed by the government on GOODS and SERVICES (INDIRECT TAX) and the INCOME and WEALTH of persons and businesses (DIRECT TAX). The government uses taxes for a number of purposes such as:
  1. to raise revenue to finance government spending (see BUDGET);
  2. to promote social equity by redistributing income and wealth (see DISTRIBUTION OF INCOME);
  3. to regulate the level of total spending in the economy (see FISCAL POLICY);
  4. to protect domestic producers from imports (see TARIFF). See INCOME TAX, CORPORATION TAX, CAPITAL GAINS TAX, WEALTH TAX, INHERITANCE TAX, VALUE-ADDED TAX, CUSTOMS DUTY, EXCISE DUTY.

tax

a levy imposed by the government on the income, wealth and capital gains of persons and businesses (DIRECT TAX), on spending on goods and services (INDIRECT TAX), and on properties. In the UK, taxes on income include personal INCOME TAX and CORPORATION TAX; ‘inheritance tax’ is used to tax wealth (see WEALTH TAX) and CAPITAL GAINS TAX is used to tax ‘windfall’ profits; taxes on spending include VALUE-ADDED TAX, EXCISE DUTY and TARIFFS; taxes on properties include the council tax (see LOCAL TAX) and the UNIFORM BUSINESS RATE. Such taxes are used to raise revenue for the government and as a means of controlling the level and distribution of spending in the economy. See TAXATION, PUBLIC FINANCE.
References in classic literature ?
It is for no particular item in the tax bill that I refuse to pay it.
If others pay the tax which is demanded of me, from a sympathy with the State, they do but what they have already done in their own case, or rather they abet injustice to a greater extent than the State requires.
One was intended to represent the Earl of Bute, who was supposed to have advised the king to tax America.
No Tax or Duty shall be laid on Articles exported from any State.
All persons, whether they belong to the industrial classes or to the capitalists, will see at once the benefits of a tax so assessed when they discover how commerce increases, and life is ameliorated in the country districts.
The State obtains products at a higher cost than those of commerce, produces them more slowly, and loses its tax upon the industry, the maintenance of which it, in turn, reduces.
The territorial tax did not entirely disappear in Rabourdin's plan,-- he kept a minute portion of it as a point of departure in case of war; but the productions of the soil were freed, and industry, finding raw material at a low price, could compete with foreign nations without the deceptive help of customs.
One afternoon, near the end of the first summer, when I went to the village to get a shoe from the cobbler's, I was seized and put into jail, because, as I have elsewhere related, I did not pay a tax to, or recognize the authority of, the State which buys and sells men, women, and children, like cattle, at the door of its senate-house.
So signal is the failure of all attempts to make this separation of the good from the tax, that the experiment would not be tried,--since to try it is to be mad,--but for the circumstance, that when the disease began in the will, of rebellion and separation, the intellect is at once infected, so that the man ceases to see God whole in each object, but is able to see the sensual allurement of an object and not see the sensual hurt; he sees the mermaid's head but not the dragon's tail, and thinks he can cut off that which he would have from that which he would not have.
But for every benefit which you receive, a tax is levied.
There is no tax on the good of virtue, for that is the incoming of God himself, or absolute existence, without any comparative.