In general, tax increases are politically unpopular. Would you ever be likely to favor a tax...

In general, tax increases are politically unpopular. Would you ever be likely to favor a tax increase? Under what circumstances, if any, might a tax increase be beneficial to the economy? Explain your reasoning clearly in a paragraph to get full points!

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In general, tax increases are politically unpopular because people do not want to reduce their income, and people hope that it will lose them and it will reduce their purchasing power. In the event of a decline in revenues, it may not be possible to purchase the goods that can be purchased. For example, for me, raising taxes is an unacceptable fact. But I have the opinion that the government should be taxed on a limited scale to find revenue.The economy of a country is driven by the income of that country. It is the responsibility of a government to find the revenue it needs to function. Taxes are the main source of income for a government.Taxes are obligatory contributions to citizens to meet its general public expenditure. The other objectives of increasing taxes are to ensure social economic welfare, serve as a means of adjustment and control, maintain national income levels, reduce inflation, and reduce income inequalities.

Rahul Sunny answered 1 year ago

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