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Wealth Tax

A wealth tax is a tax on an individual’s assets, including property and savings. The purpose of a wealth tax is to reduce inequality and raise revenue for the government. Wealth taxes are progressive, meaning that they tax wealthier individuals at a higher rate than less wealthy individuals. Critics of wealth taxes argue that they …

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Write-Off

In accounting, a write-off is an expense or loss that is recorded as a reduction to the value of an asset. The write-off represents the amount of the asset that has been used up or is no longer expected to provide economic benefits. A write-off is typically recorded when the asset is determined to be …

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