tax income

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Explanation of "Tax Income"

Definition:
"Tax income" refers to the money that a government collects from people and businesses through taxes. This money is used to pay for public services like schools, roads, and hospitals.

Usage Instructions:

• "Tax income" is typically used in discussions about government finances, budgets, and economics.
• It is often used in formal or official contexts, such as reports, news articles, or discussions about government policy.

Example:

• "The government's tax income increased this year, allowing for more funding for public education."

Advanced Usage:

• In more advanced discussions, you might encounter phrases like "tax revenue" or "taxation income," which mean the same thing as "tax income."

Word Variants:

• Tax (noun): A compulsory financial charge or levy imposed by a government.
• Income tax (noun): A specific type of tax on the income earned by individuals or businesses.

Different Meanings:

• In a broad sense, "tax" can also refer to the act of charging a tax, while "income" can refer to money received, often from work or investments.

Synonyms:

• Tax revenue
• Tax proceeds
• Fiscal income

Idioms and Phrasal Verbs:

• "Tax burden": This phrase refers to the total amount of tax that individuals or businesses have to pay, which can feel heavy or difficult to manage.
• "Tax break": This is a reduction in the amount of tax a person or business has to pay, often used as an incentive to encourage certain behaviors (like investing in renewable energy).

Summary:

In summary, "tax income" is an important term that describes the funds collected by governments to support public services.

Academic

Noun

1. government income due to taxation

Synonyms

• taxation
• tax revenue
• revenue