Although privatization of business eliminated most of the social services that came from state-owned companies, increased tax revenues have improved government sponsored social welfare programs.

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Privatization of businesses does not inherently guarantee increased tax revenues that would improve government-sponsored social welfare programs. The impact of privatization on social services and tax revenues can vary widely depending on the specifics of the privatization process, the sectors involved, and the efficiency of the new private entities in generating profit and thus taxable income.

Although Privatization of Business Eliminated Most of the Social Services