One of the reasons governments collect taxes is to fund public expenditures (such as road construction or hospital construction). The collected revenue is used by the government to achieve certain economic aims, such as altering aggregate demand levels. A government may also use taxation to redistribute money in order to reduce income disparity and build a more egalitarian society. Individuals and corporations give money to the government to fund its operations and services through taxation. The financial fuel powers public infrastructure, which includes everything from schools to hospitals to roadways and defense systems. Taxes can be classed or categorized according to a variety of variables, including the method of collection, the impact on income distribution, and the sort of commodities or revenue they apply to. Here are some of the most prevalent tax classifications: Individuals or organizations are subject to direct taxes, which must be paid directly to the government. Income tax, wealth tax, business tax, and so on are examples. Indirect taxes are placed on products and services and are collected from the person who suffers the ultimate economic burden of the tax by an intermediary. Sales tax, VAT, and excise tax are a few examples.
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