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How do the concepts of gross income and exclusions reflect the underlying principles of equity and efficiency in the tax system? Provide 2 - 3

How do the concepts of gross income and exclusions reflect the underlying principles of equity and efficiency in the tax system? Provide

2 - 3

examples of different types of income and exclusions, and discuss how these examples illustrate the balance

(

or imbalance

)

between ensuring fairness among taxpayers and promoting economic growth.

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