Paper 1 real world example: Inequality, equity and taxation
One of the ways of redistributing wealth or income in a country is through taxation. Most countries have a progressive taxation system where a higher rate of tax is paid by the richest in society and the money raised can be used to fund public services for lower-income groups.The Norwegian government has looked to take income distribution further by introducing a wealth tax. Norway levies a tax of 1% on a household’s...
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