1.   A balanced budget meant increasing tax rates and reducing public expenditure.

2.   A Marginal tax rate is the tax paid on additional or incremental income.

3.   And it could encourage harder work by reducing Marginal tax rates.

4.   And once tax evasion becomes a habit it will continue even after lower tax rates are introduced.

5.   Beginning from a zero rate, a small increase in the tax rate will yield some tax revenue.

6.   By definition, a tax whose average tax rate rises as income Increases is called progressive tax.

7.   Corporate tax rates have been cut, too.

8.   Flattening tax rates has fast become the mantra of reform-minded politicians.