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Inheritance taxes and excise taxes on luxury goods are examples of specific types of taxes.

Inheritance tax, also known as estate tax or death tax, is a tax on the transfer of property or assets from a deceased person to their heirs. It is a form of wealth tax that is levied on the value of an estate above a certain threshold.

Excise taxes on luxury goods, on the other hand, are taxes on specific goods that are considered non-essential or luxury items, such as high-end cars, yachts, private jets, jewelry, and expensive clothing. These taxes are often levied as a percentage of the sale price of the item.

Both of these types of taxes can be considered forms of "progressive taxation," which means that they are designed to be more burdensome on individuals with higher levels of wealth or consumption. In contrast, "regressive taxes" are designed to be more burdensome on individuals with lower levels of income or wealth.

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mosesoluwatobi720

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Arianna Jackson

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Progressive

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Q: Inheritance taxes and excise taxes on luxury goods are examples of what type of taxes?
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