High Income Tax Rates
As we all know that high rates of income taxes on individuals as well as organization and companies are affected in both ways. Personal income taxes regularly impose the continuous learning of the individual, at the same time as corporate tax usually taxes net profit of the company. Different tax systems are present, with changing degrees of tax incidence. Income taxation can be proportional, progressive or regressive. While revenue has been the key source of income for the majority government in the world as overall, high-income tax rate has both advantage and disadvantage to person and companies as well. Death and taxes, both certainties of life have their downsides. Income tax fulfills some significant functions in society. In addition to giving the government revenue with which to manage the country's affairs, the charging of taxes can also be used to discourage and encourage the growth of certain industries. Yet, there are some main disadvantages to the high tax rate. T