Overtaxing: meaning, definitions and examples
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overtaxing
[ oʊvərˈtæksɪŋ ]
financial burden
Overtaxing refers to the action of imposing an excessive tax burden on an individual, business, or organization. This can lead to financial strain, reduced economic activity, and dissatisfaction among taxpayers. When a government or authority overtaxes its residents, it may result in various forms of tax evasion or avoidance. Overtaxing can also discourage investment and innovation as individuals and businesses feel they cannot keep a fair share of their earnings.
Synonyms
Examples of usage
- Many people feel overtaxed during economic downturns.
- The new policies are accused of overtaxing small businesses.
- Overtaxing can diminish incentives for hard work and productivity.
Translations
Translations of the word "overtaxing" in other languages:
🇵🇹 sobrecarregando
🇮🇳 अधिक कर लगाना
🇩🇪 überbesteuern
🇮🇩 memungut pajak berlebihan
🇺🇦 перекладення податків
🇵🇱 przeciążanie
🇯🇵 過剰課税
🇫🇷 surcharge fiscale
🇪🇸 sobrecarga impositiva
🇹🇷 aşırı vergi yüklemek
🇰🇷 과세 과중
🇸🇦 فرض ضرائب زائدة
🇨🇿 přetěžování
🇸🇰 preťažovanie
🇨🇳 过度征税
🇸🇮 preobremenitev
🇮🇸 ofurskat
🇰🇿 артық салық салу
🇬🇪 გადასახადების გადატვირთვა
🇦🇿 artıq vergi qoymaq
🇲🇽 sobrecarga fiscal
Etymology
The term 'overtaxing' is derived from the combination of the prefix 'over-' meaning excessively, and the word 'tax', which has its origins in the Latin word 'taxare', meaning to estimate or assess. The word 'tax' has been used in various forms since the medieval period when governments began levying charges on the population to fund public services. The concept of overtaxing has evolved alongside the development of taxation systems. In contemporary society, discussions about overtaxing often arise during debates about fiscal policy, government spending, and social equity. As taxes are crucial for state functions, the balance of tax rates versus economic growth has historically been a contentious issue.