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Refers to compulsory or coercive money collection by a levying authority, usually a government. The term "taxation" applies to all types of involuntary levies, from income to capital gains to estate taxes. Though taxation can be a noun or verb, it is usually referred to as an act; the resulting revenue is usually called "taxes."

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"Wealth tax" on illiquid assets, how would people pay

In the face of my downvote, I'll provide some practicable answers to a question that is of relevance only in theory. There are literally hundreds of possibilities. If you are searching for academic …
Eric.Makela's user avatar