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One reason can be double taxation. Normally all income and capital growth would already have been taxed.
by altstar 10y ago
One reason can be double taxation. Normally all income and capital growth would already have been taxed.
- pcrh 10y agoPretty much everything is subject to multiple taxes. For example, the money you spend after income taxes are deducted may further be taxed by the means of sales taxes. Or, the money you invest from your taxed income might be subject to capital gains taxes.