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A limiting factor in determining the government budget is the capacity to tax. Per capita income (PCI) is the most often used measure of relative fiscal capacity. [11] But this measure fails to base tax capacity computation on other important tax bases like the sales and property tax and corporate income taxes.
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 ...
Poll taxes are regressive, meaning the higher someone's income is, the lower the tax is as a proportion of income: for example, a $100 tax on an income of $10,000 is a 1% tax rate, while $100 tax on a $500 income is 20%. Its acceptance or "neutrality" depends on the balance between the tax demanded and the resources of the population.
Per capita is a Latin phrase literally meaning "by heads" or "for each head", and idiomatically used to mean "per person". The term is used in a wide variety of social sciences and statistical research contexts, including government statistics, economic indicators , and built environment studies.
Per capita income (PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. In many countries, per capita income is determined using regular population surveys, such as the American Community Survey . [ 1 ]
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Because the number of people or earners per household can vary significantly between regions and over time, the choice of measurement basis can impact household income rankings and trends. When taxes and mandatory contributions are subtracted from household income, the result is called net or disposable household income.
Tax rates schedules may vary for individuals based on marital status. [b] In India on the other hand there is a slab rate system, where for income below INR 2.5 lakhs per annum the tax is zero percent, for those with their income in the slab rate of INR 2,50,001 to INR 5,00,000 the tax rate is 5%. In this way the rate goes up with each slab ...