In 2020, the world experienced the COVID 19 pandemic. This infection had an enormous impact of many individuals. It also impacted businesses, governments and economies. One impact the pandemic had was to put many government budgets into deficit as tax collections fell far below the governments spending. What changes would you make to the tax system in order to increase tax revenues? Consider how you would change the taxation of:

1. Individuals

2. Businesses

In addition, how you would change taxation of

1. Income

2. Wealth

3. Consumption