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The greatest weakness of the articles of Confederation is the Congress not being able to establish a common currency, nor regulating the interstate commerce and the levy of taxes.
What is taxes?
A tax is a mandatory financial charge or other type of levy imposed on a taxpayer by a governmental organization to fund government spending and various public expenditures, and taxation is a type of levy.
A tax deduction is a provision that lowers the amount of taxable income. A standard deduction is a single, fixed-amount deduction. Itemized deductions are popular with higher-income taxpayers because they frequently have significant deductible expenses such as state/local taxes paid, mortgage interest, and charitable contributions.
The effective tax rate is the percentage of an individual's or corporation's income that is paid in taxes. Individuals' effective tax rate is the average rate at which their earned and unearned income, such as stock dividends, are taxed.
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