taxation

A means by which governments finance their expenditure by imposing chargeson citizens and corporate entities. Governments use taxation to encourage or discourage certain economic decisions. For example, reduction in taxable personal (or household) income by the amount paid as interest on homemortgage loans results in greater construction activity, and generates more jobs. See also taxation principles.

Usage Example

Government taxation can collect money from people in order to improve things like public works, infrastructure and education.

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