tax increases

Tax increases occur when the government raises the percentage of income, sales, or property value that individuals or businesses owe, to fund public services and projects. This can happen through legislation and is often a response to budget needs or economic conditions. While higher taxes may reduce disposable income or profits, they enable the government to invest in infrastructure, education, healthcare, and safety programs. Tax increases are typically debated to balance fair revenue collection with minimizing economic burden. They are one of the tools governments use to manage economic stability and public welfare.