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3] Okun (1975) suggests that society may be willing to allow some leakage of income in a tax and transfer system to reduce the degree of income inequality. Relate Okun's notion of the leaky bucket to the trade-off between efficiency and equity in a system whereby a government raises its revenue based on the taxation of goods and services. Assess the advantages and disadvantages of different forms of taxes on goods and services. Okun, A. 1975. Equity and Efficiency: The Big Tradeoff. The Brookings Institution, Washington, DC