In some countries people who have high incomes pay very high taxes. What are the advantages and disadvantages of this for individuals and for the country as a whole? Give reasons for your answer and include any relevant examples from your own knowledge or experience.
In many nations across the globe, individuals who earn more must pay more in
Correct article usage
the form
form
of Correct article usage
the form
income
Use synonyms
tax
. While there may be benefits of paying high-Use synonyms
income
Use synonyms
tax
for both individuals and a Use synonyms
country
, there are some downsides to it as well.
Use synonyms
To begin
with, Linking Words
people
who pay more Use synonyms
tax
may be able to get Use synonyms
a
higher Correct article usage
apply
tax
Use synonyms
refunds
if they are able to show their expenses and their current financial situation at the end of a financial year. Correct the article-noun agreement
refund
For example
, many mining professionals who earn around six figures annually can claim a large amount in Linking Words
tax
return when they show their expenses and other offsets entitled to them by the government in Australia. Use synonyms
As a result
, they can save their Linking Words
tax
return or perhaps invest it wisely to make more money. For a Use synonyms
country
, more Use synonyms
income
Use synonyms
tax
means more revenue a Use synonyms
country
can generate by taxing the rich and top earners, Use synonyms
this
means that a Linking Words
country
has more money to spend for uplifting the standard of living of its citizens.
Use synonyms
On the other hand
, some Linking Words
people
may have accumulated debt, and even if they are earning high amounts, they still may not be able to pay it in the planned time due to high-Use synonyms
income
Use synonyms
tax
. Use synonyms
For example
, in the United States, more than 50% of Linking Words
people
aged above forty are still paying their loans for higher studies despite being amongst the highest earners in the Use synonyms
country
as a part of their Use synonyms
income
is taken by the government in the form of Use synonyms
tax
. Use synonyms
Moreover
, a Linking Words
country
that relies on Use synonyms
income
Use synonyms
tax
for its revenue may experience financial difficulties during times of economic uncertainty. During times of recession, many Use synonyms
people
lose their jobs and some have their salaries reduced, Use synonyms
thus
resulting in a decrease in revenue for a Linking Words
country
.
In conclusion, there is no doubt that there are advantages for any Use synonyms
country
and its citizensUse synonyms
,
if their high earners pay more Remove the comma
apply
tax
, Use synonyms
however
, there is Linking Words
also
no denying that some Linking Words
people
and countries may feel the negatives of Use synonyms
such
a policy.Linking Words
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