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Miscellaneous

What is tax?

2 Answers

Tax is a form of payment to the government. The government taxes you on all income and some assets like property tax, car tabs, etc. The tax income they receive goes towards projects like fixing the roads, paying federal or state officials wages, etc.

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a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions. "higher taxes will dampen consumer spending" a strain or heavy demand.

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