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Raising Taxes

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Mon, 2008-09-22 15:04 — The Conductor
Topic: 
Distinctionary
Economics

Tax Rates vs. Tax Revenue:
Tax rates are the percentage of wealth paid to the government. That percentage is can be an income tax or a property tax. Tax revenue is the total amount the government collects when everyone’s individual payments—determined by tax rate percentages—are added together. Tax rates influence individual choices, while tax revenue influences the government’s ability to fund its activities. Some argue that total tax revenue may be raised even while individual tax rates are lowered.