Understanding Business
Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Chapter 1, Problem 1TIT
Summary Introduction

To discuss: The share of taxes paid by the individuals. Also, the percentage of tax paid by the top 1 percent of earners, top 5 percent of earners and the lowest 50 percent people and the effect of these to become a successful entrepreneur.

Introduction:

Tax is a compulsory payment to be made by all the income or profit earners of the country to its government as a fraction of their total income earned.

Entrepreneurship refers to the scheme within which individuals tend to set up separate business firms, who takes the risk individually and enjoy the profit alone.

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