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Economic factors affected when taxes are lowered

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What other economic factors are affected when taxes are raised or lowered, and how are they affected?

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Solution Summary

The expert determines the economic factors affected when taxes are lowered.

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Some of the economic factors that affect taxes include:

1. Government spending vs. income
Higher government spending would require higher taxes because the government need more money to spend and vice versa

2. Politics
Depending on the political part that is in power, taxes can either go up or go down. Republicans want smaller government and therefore are
likely ...

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