Taxation is used by governments to provide revenue to fund operations. Complete the following:
Provide a discussion on several other purposes of taxation and how the government might use it to foster economic growth.
What is the difference between a tax deduction and a tax credit?
Describe how they reduce a taxpayer’s tax liability.
Provide some examples of both tax deductions and tax credits, including both refundable and nonrefundable credits. Within the Discussion Board area, write 400-600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
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