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Do We Actually Need Taxes?

Economics Explained

00:00

The Importance of Alternative Taxes

Alternative taxes are a common feature for countries and they have a lot of advantages. Take Singapore for example, it still has income taxes but they are incredibly low. What it does instead is levy taxes on things that require government expenditure. Cars are the best example here - buying and registering a vehicle in Singapore can easily cost 5 times as much as it does in the United States. If you don't need or want to drive a car, no worries, you do not need to pay.

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