MANAGEMENT

Detailed explanation-1: -Some say progressive taxation is a form of inequality and amounts to a redistribution of wealth as higher earners pay more to a nation that supports more lower-income earners. Those who oppose progressive taxes often point to a flat tax rate as the most appropriate alternative.

Detailed explanation-2: -The main objective of taxation is to fund government expenditure. But it is not the only objective, taxation policy has some non-revenue objectives. These objectives are: Economic development – Resource mobilization for economic development is done through taxation.

Detailed explanation-3: -Meaning of redistributive taxation in English a situation in which rich people are taxed more and poor people are taxed less, as a percentage of their incomes: The Social Charter advocates strong unions, minimum wages, and redistributive taxation. Want to learn more?

Detailed explanation-4: -Other taxation-based methods of redistributing income are the negative income tax for very low income earners and tax loopholes (tax avoidance) for the better-off. Two other common types of governmental redistribution of income are subsidies and vouchers (such as food stamps or Section-8 housing vouchers).

Detailed explanation-5: -Income Taxes Income tax is the prime example of a direct tax; it is levied directly on the incomes of the individual consumers in the economy, and it can be designed to take account of the individual circumstances of the taxpayer.