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Explain the real purpose of income taxes and the major purposes the tax system is...

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Accounting

Explain the real purpose of income taxes and the major purposes the tax system is meant to serve. Why do people think its sole purpose is to raise revenue? Also what are the five entities that the tax law identifies as taxable?

Explain the real purpose of income taxes and the major purposes the tax system is meant to serve. Why do people think its sole purpose is to raise revenue? Also what are the five entities that the tax law identifies as taxable?

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