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Purpose of income taxes?

Ralph Lopez

in Student Loans

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Kevin Sutter on September 28, 2018

The primary purpose of income taxes is to raise money to pay for government operations. However, they have been used in the second place, to encourage or discourage certain types of of the activity. For example, the deductions for mortgage interest to encourage the purchase of homes and the reduction of the tax rates for stock dividends, to encourage investment in the stock market.

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