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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.
In economics, a leakage is a diversion of funds from some iterative process. For example, in the Keynesian depiction of the circular flow of income and expenditure, leakages are the non-consumption uses of income, including saving, taxes, and imports. In this model, leakages are equal in quantity to injections of spending from outside the flow ...
In public choice theory, tax choice (sometimes called taxpayer sovereignty, [1] earmarking, participatory taxation or fiscal subsidiarity [2] [failed verification]) is an emerging type of citizen sourcing in which individuals or groups of taxpayers decide how to allocate part of their taxes of a municipal or public budget appropriation through ...
Optimal capital income taxation is a subarea of optimal tax theory which studies the design of taxes on capital income such that a given economic criterion like utility is optimized. [ 1 ] Some have theorized that the optimal capital income tax is zero.
A research design typically outlines the theories and models underlying a project; the research question(s) of a project; a strategy for gathering data and information; and a strategy for producing answers from the data. [1] A strong research design yields valid answers to research questions while weak designs yield unreliable, imprecise or ...
Non-linear income taxation can be used by the government and was in a seminal article by Joseph Stiglitz and Anthony Atkinson in 1976. [1] The Atkinson–Stiglitz theorem is an important theoretical result in public economics, spawning a broad literature that delimited the conditions under which the theorem holds.
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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 ...