How do the concepts of gross income and exclusions reflect the underlying principles of equity and efficiency in the tax system? Provide 2 - 3 examples of different types of income and exclusions, and discuss how these examples illustrate the balance (or imbalance) between ensuring fairness among taxpayers and promoting economic growth.

SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter4: Gross Income: Concepts And Inclusions
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How do the concepts of gross income and exclusions reflect the underlying principles of equity and efficiency in the tax system?
Provide 2 - 3 examples of different types of income and exclusions, and discuss how these examples illustrate the balance (or
imbalance) between ensuring fairness among taxpayers and promoting economic growth.
Transcribed Image Text:How do the concepts of gross income and exclusions reflect the underlying principles of equity and efficiency in the tax system? Provide 2 - 3 examples of different types of income and exclusions, and discuss how these examples illustrate the balance (or imbalance) between ensuring fairness among taxpayers and promoting economic growth.
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