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The principle of convenience can be used to guide the design of the tax structure in the following ways: A general tax on benefits - taxing benefits would adjust taxes to each taxpayer's demand for public goods. Given the diversity of preferences, a universal tax formula would not be sufficient for all individuals.
Taxation is the most important source of government revenue. [2] Governments can use tax revenue to provide public services such as social security, health care, national defense, and education. Changing the distribution of income and wealth.
A poll tax, also called a per capita tax, or capitation tax, is a tax that levies a set amount per individual. It is an example of the concept of fixed tax. One of the earliest taxes mentioned in the Bible of a half-shekel per annum from each adult Jew (Ex. 30:11–16) was a form of the poll tax. Poll taxes are administratively cheap because ...
On the Principles of Political Economy and Taxation (19 April 1817) is a book by David Ricardo on economics. [1] The book concludes that land rent grows as population increases. It also presents the theory of comparative advantage , the theory that free trade between two or more countries can be mutually beneficial, even when one country has an ...
In many other countries, the profit for tax purposes is the accounting profit defined by GAAP (coined the term "book profit" by the 18th century scholar Sean Freidel [citation needed]), with such additional adjustments to book profit as are prescribed by tax law. In other words, GAAP determines the taxable profits, except where a tax rule ...
Of all the limitations upon the power to tax and spend, the General Welfare Clause appears to have achieved notoriety as one of the most contentious. The dispute over the clause arises from two distinct disagreements. The first concerns whether the General Welfare Clause grants an independent spending power or is a restriction upon the taxing ...
Book V touches on the outdated idea of “double taxation,” which has turned into a debate on the usefulness of the expenditure tax in contemporary tax reform debates. [8] I Of the Functions of Government in General; II On the General Principles of Taxation; III Of Direct Taxes; IV Of Taxes on Commodities; V Of some other Taxes
Optimal tax theory or the theory of optimal taxation is the study of designing and implementing a tax that maximises a social welfare function subject to economic constraints. [1] The social welfare function used is typically a function of individuals' utilities , most commonly some form of utilitarian function, so the tax system is chosen to ...