Taxes are as certain as the death, because
(A) They constitute the major source of government revenue.
(B) Government have no other source of revenue.
(C) Most PSUs are run inefficiently.
(D) Government has its own budget constraints.
Correct Answer : They constitute the major source of government revenue.
Question Asked : SSC CHSL (10+2) DEO & LDC Exam 2014
Explanation : Benjamin Franklin's utterance, "In this world nothing can be said to be certain, except death and taxes." when applied in economics means that the largest amount of revenue raised by governments comes from taxation. The proverb draws on the actual inevitability of death to highlight the difficulty in avoiding the burden of taxes.
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Tags : macroeconomics
