What is another word for overtaxes?

180 synonyms found


[ ˌə͡ʊvətˈaksɪz], [ ˌə‍ʊvətˈaksɪz], [ ˌəʊ_v_ə_t_ˈa_k_s_ɪ_z]

Synonyms for Overtaxes:

How to use "Overtaxes" in context?

Overtaxation is a form of taxation where taxes are levied in excess of the amounts necessary to finance public expenditures. A government that taxes more than it spends can run an annual budget deficit, which can damage the economy. When a government exceeds its revenue targets, it may resort to borrowing, printing money, or raising other taxes in order to bridge the gap. Nations with large budget deficits are often referred to as being in debt.

A common example of overtaxation is the United States' federal income tax system.

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