3 Dimensions to Taxes

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4 Terms

1
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Tax base =

The set of things (land, etc) or activities (earning income, etc) that the government chooses to tax (chosen by gov)

2
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Tax rate =

The percentage at which things in the tax base are taxed by the government (chosen by gov)

3
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Tax revenue =

Money that the govenment takes in from the tax base and tax rate (not chosen by gov)

4
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