2. There are different types of taxes. What type of tax is the biggest contributor to th Nationaf Budget?
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The largest contributor to the National Budget usually comes from income tax, which is a crucial source of revenue for many governments worldwide. This tax is collected from individual earnings, corporate profits, and other income sources. It plays a significant role in funding public services like education, healthcare, and infrastructure. Another significant contributor is sales tax, which is levied on the sale of goods and services. It is often viewed as a more equitable tax, as it generates revenue based on consumption rather than income. This means that, in theory, those who spend more contribute more to the national budget, helping to support essential public programs.