Question
Tax rates on higher income groups have been increased
resulting in ________.Solution
Increasing tax rates on higher income groups primarily aims to address income and wealth inequality. By taxing the wealthy at higher rates, governments can redistribute these funds to support public welfare programs like education, healthcare, and social security that benefit lower-income groups. This approach helps reduce income disparities and bridge the gap between rich and poor. Such policies promote social justice, economic fairness, and can lead to greater social stability by addressing economic disparities.
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