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Taxes may be used in part to settle old debts. Taxes are another way that governments pay for public services and welfare. These services could include public transportation, senior retirement schemes, and educational facilities.
The U.S. government has continued to get most of its money through individual income taxes since 2015.
One of the top development priorities is tax and fee collection. It is crucial to create the appropriate pricing incentives for sustainable private-sector investment as well as to finance expenditures in human capital, infrastructure, and the delivery of services for residents and companies.
Taxes also have an impact on how much money families save, hire, and invest in human capital, how much money businesses generate, hire, invest, and innovate, and how investors choose to save and spend their money.
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