Taxes Have Consequences
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Taxes Have Consequences
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Author : Arthur B. Laffer
language : en
Publisher: Post Hill Press
Release Date : 2022-10-18
Taxes Have Consequences written by Arthur B. Laffer and has been published by Post Hill Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-10-18 with History categories.
The definitive history of the effect of the income tax on the economy. Ever since 1913, when the United States first imposed the income tax via constitutional amendment, the top rate of that tax has determined the fate of the American economy. When the top rate has been high, as in the late 1910s, the 1930s, 1940s, 1950s, and 1970s, the response of those with money and capital has been to curtail real economic activity in favor of protecting assets and income streams. Huge declines have come to the economy in these circumstances. The most brutal example was the Great Depression itself. When the top tax rate has been cut and held at reduced levels—as in the 1920s, the 1960s, in the long boom of the 1980s and 1990s, and briefly in the late 2010s—astonishing reversals have occurred. The rich have brought their money out of hiding and put it to work in the economy. The huge swings in the American economy since 1913 have had an inverse relationship to income tax rates.
Summary Of Arthur B Laffer S Taxes Have Consequences
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Author : Everest Media,
language : en
Publisher: Everest Media LLC
Release Date : 2022-10-10T22:59:00Z
Summary Of Arthur B Laffer S Taxes Have Consequences written by Everest Media, and has been published by Everest Media LLC this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-10-10T22:59:00Z with History categories.
Please note: This is a companion version & not the original book. Sample Book Insights: #1 Income taxes are a cost that reduces the amount of money suppliers receive for selling a product. This necessarily makes supply go down. A tax lowers a buyer’s interest in buying, and the squeeze on profit margins from a tax makes producers sour on their own enterprises. #2 The US income tax is an effective wealth tax that reduces supply and makes people lose interest in their own companies. It is a cost that reduces the amount of money suppliers receive for selling a product, and this necessarily makes supply go down. #3 The focus on the top rate of the income tax and those subject to it, the richest people, is because these people are especially determined to avoid paying that top rate. #4 The Sixteenth Amendment to the Constitution ratified in 1913, with its provision that Congress shall have power to lay and collect taxes on incomes, from whatever source derived, established the modern US income tax.
The Causes And Consequences Of Income Tax Noncompliance
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Author : Jeffrey A. Dubin
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-12-02
The Causes And Consequences Of Income Tax Noncompliance written by Jeffrey A. Dubin and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-02 with Business & Economics categories.
Taxpayer compliance is a voluntary activity, and the degree to which the tax system works is affected by taxpayers’ knowledge that it is their moral and legal responsibility to pay their taxes. Taxpayers also recognize that they face a lottery in which not all taxpayer noncompliance will ever be detected. In the United States most individuals comply with the tax law, yet the tax gap has grown significantly over time for individual taxpayers. The US Internal Revenue Service attempts to ensure that the minority of taxpayers who are noncompliant pay their fair share with a variety of enforcement tools and penalties. The Causes and Consequences of Income Tax Noncompliance provides a comprehensive summary of the empirical evidence concerning taxpayer noncompliance and presents innovative research with new results on the role of IRS audit and enforcements activities on compliance with federal and state income tax collection. Other issues examined include to what degree taxpayers respond to the threat of civil and criminal enforcement and the important role of the media on taxpayer compliance. This book offers researchers, students, and tax administrators insight into the allocation of taxpayer compliance enforcement and service resources, and suggests policies that will prevent further increases in the tax gap. The book’s aggregate data analysis methods have practical applications not only to taxpayer compliance but also to other forms of economic behavior, such as welfare fraud.
Taxing The Working Poor
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Author : Achim Kemmerling
language : en
Publisher: Edward Elgar Publishing
Release Date : 2009-01-01
Taxing The Working Poor written by Achim Kemmerling and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Political Science categories.
Kemmerling deftly intertwines the efficiency theory of taxation with the political basis of taxing the working poor. . . This commendable effort in interdisciplinary study and the comparative analysis of taxation is an essential reference for undergraduate and graduate students, as well as faculty and professionals of economics, political science, and taxation systems of Europe. S. Chaudhuri, Choice Taxing the Working Poor is an inspiring read for political scientists and economists interested in the relationship between taxation and employment. Based on an elegant combination of econometric analysis and historical case studies, it shows that the alleged trade-off between employment and progressive taxation has political rather than economic roots. Philipp Genschel, Jacobs University Bremen, Germany What are the economic and political forces which generate different regimes of tax on labour? What are the implications for the labour market of these different regimes? And does globalisation bring a halt to tax-based redistribution? Achim Kemmerling tackles these and other important questions in this significant book. Malcolm Sawyer, University of Leeds, UK We have been distracted from the detailed problems of financing the welfare state by the tired old twentieth-century debate between libertarian tax minimisers and maximal socialist collectivisers. We have to move on. The welfare state has to be accepted and the detailed problems of taxation to sustain it have to be addressed. This well-researched and fascinating book addresses the political and institutional origins of different tax systems and points to viable strategies of redistribution and reform. Geoffrey M. Hodgson, University of Hertfordshire, UK In most industrialized countries the tax burden of poor people has increased dramatically over the last few decades. This book analyses both the political origins of this increase and its consequences for the labour market. Achim Kemmerling illustrates that tax-based redistribution and employment are not incompatible, and that the shift away from redistribution has not occurred on grounds of economic efficiency. He goes on to show that a long-term shift from capital to labour taxation has provoked conflicts of interests between workers that have weakened the political cause of tax-based redistribution. This interdisciplinary account of the political economy of taxing low wages explains the historical and structural origins of political tensions between different types of workers and their effects on the performance of labour markets. As such, it will strongly appeal to a wide-ranging audience, including academics, students and researchers with a special interest in political science, political economy, labour markets and the economics of taxation. Practitioners in the field of labour market, social and tax policies interested in the normative consequences of taxation for the labour market will also find the book to be of great interest.
Does Atlas Shrug
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Author : Joel Slemrod
language : en
Publisher: Harvard University Press
Release Date : 2000
Does Atlas Shrug written by Joel Slemrod and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
Since the introduction of the income tax in 1913, controversy has raged about how heavily to tax the rich. Opponents of high tax rates claim that heavy assessments have negative incentives on the productivity of some of our most talented citizens; supporters stress the importance of the rich shouldering their "fair share," and decry the loopholes that permit many to escape their obligations. Notably absent from this debate is hard evidence about the actual impact of taxes on the behavior of the affluent. This book presents evidence by leading economists of the effects of taxes on the formation of businesses, the supply of labor, the form of executive compensation, the accumulation of wealth, the allocation of portfolios, and the realization of capital gains. Among its findings are that the labor supply of the rich remained unchanged in the face of large tax cuts in 1986, and that in late 1992 executives exercised billions of dollars' worth of stock options in order to beat the tax increases expected in 1993. The book also presents a history of efforts to tax the rich, a demographic snapshot of the financially affluent, and a road map to widely used tax-avoidance strategies. Does Atlas Shrug? will be of great interest to policymakers and interested citizens who want to know how much tax revenue could really be gained by increasing tax rates on the rich, or whether low capital gains tax rates really spur economic growth.
The Value Added Tax
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Author : Ben Lockwood
language : en
Publisher: International Monetary Fund
Release Date : 2007-07
The Value Added Tax written by Ben Lockwood and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-07 with Business & Economics categories.
Has the VAT proved, as its proponents claim, an especially effective form of taxation? To address this, this paper first shows that a tax innovation-such as the introduction of a VAT- reduces the marginal cost of public funds if and only if it also leads an optimizing government to increase the tax ratio. This leads to the estimation, on a large panel, of a system of equations describing the probability of VAT adoption and the revenue impact of the VAT. The sign of the revenue impact is generally ambiguous, but most countries that have adopted a VAT seem to have gained a more effective tax instrument in doing so.
Taxation A Very Short Introduction
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Author : Stephen Smith
language : en
Publisher: OUP Oxford
Release Date : 2015-04-23
Taxation A Very Short Introduction written by Stephen Smith and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-23 with Law categories.
Taxation is crucial to the functioning of the modern state. Tax revenues pay for public services - roads, the courts, defence, welfare assistance to the poor and elderly, and in many countries much of health care and education too. More than one third of national income in the industrialized (OECD) countries is on average taken in taxation. Taxes affect individuals in many ways. Taxes paid on income and spending directly reduce taxpayer disposable income, taxpayers face the hassle of tax returns and making payments, and they may be anxious about the possibility of investigation and enforcement action. People also adapt their activities in various ways to reduce the impact of taxation - putting money into tax-free savings accounts, or making shopping trips to other countries where taxes are lower. Taxation is therefore central to politics and public debate. Politicians that make reckless campaign promises about taxation then have to live with the uncomfortable consequences if elected. Businesses lobby for tax breaks that they claim will create jobs and prosperity. In this Very Short Introduction Stephen Smith shows how taxes have real effects on citizens and the economy that tax policy-makers have to balance. Although tax policy will always be a highly political issue, he argues that public decisions about taxation would be improved by a better understanding of the role of taxation, and of the nature and effects of different taxes. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.
Taxes Have Consequences
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Author : Arthur B. Laffer
language : en
Publisher: Simon and Schuster
Release Date : 2022-09-27
Taxes Have Consequences written by Arthur B. Laffer and has been published by Simon and Schuster this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-09-27 with History categories.
The definitive history of the effect of the income tax on the economy. Ever since 1913, when the United States first imposed the income tax via constitutional amendment, the top rate of that tax has determined the fate of the American economy. When the top rate has been high, as in the late 1910s, the 1930s, 1940s, 1950s, and 1970s, the response of those with money and capital has been to curtail real economic activity in favor of protecting assets and income streams. Huge declines have come to the economy in these circumstances. The most brutal example was the Great Depression itself. When the top tax rate has been cut and held at reduced levels—as in the 1920s, the 1960s, in the long boom of the 1980s and 1990s, and briefly in the late 2010s—astonishing reversals have occurred. The rich have brought their money out of hiding and put it to work in the economy. The huge swings in the American economy since 1913 have had an inverse relationship to income tax rates.
On The Shifting And Incidence Of Taxation Classic Reprint
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Author : Edwin R. A. Seligman
language : en
Publisher: Forgotten Books
Release Date : 2017-11-16
On The Shifting And Incidence Of Taxation Classic Reprint written by Edwin R. A. Seligman and has been published by Forgotten Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-16 with Business & Economics categories.
Excerpt from On the Shifting and Incidence of TaxationFinally, we must not confound the incidence of taxation with the effect of taxation. A tax may have a great many effects. It may diminish indus try and impoverish individuals; it may in some cases stimulate production and enrich individuals; it may be an unmitigated curse to society; it may be a nec essary evil; it may be an unqualified boon to the community regarded as a whole. With none of these problems does the study Of incidence busy itself. All that we have to investigate is: On whom does the tax ultimately fall? When we once know this we can then proceed to the further discussion of the effects produced on the various classes or individuals by the pressure of taxation. The problem of incidence con cerns itself simply with the one question of fact, who really pays the tax? It does not pretend to unravel the final consequences of taxation. The Shifting is the process; the incidence is the result; the changes in the distribution Of wealth are the effect.The discussion of incidence thus depends entirely On the investigation of the Shiftings of taxation. The real problem before us is to ascertain the condition according to which a tax is Shifted onwards, back wards or not at all. Only when we understand why and how a tax is shifted, can we discover its actual incidence.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
The Economic Effects Of Taxing Capital Income
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Author : Jane Gravelle
language : en
Publisher: MIT Press
Release Date : 1994
The Economic Effects Of Taxing Capital Income written by Jane Gravelle and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.
How should capital income be taxed to achieve efficiency and equity? In this detailed study, tax policy analyst Jane Gravelle, brings together comprehensive estimates of effective tax rates on a wide variety of capital by type, industry, legal form, method of financing, and across time. These estimates are combined with a history and survey of issues regarding capital income taxation that are aimed especially at bringing the findings of economic theory and recent empirical research to nonspecialists and policymakers. Many of the topics treated have been the subject of policy debate and legislation over the last ten or fifteen years.Should capital income be taxed at all? And, if capital income is to be taxed, what is the best way to do it? Gravelle devotes two chapters to the first question, and then, in answer to the second question, covers a broad range of topics - corporate taxation, tax neutrality, capital gains taxes, tax treatment of retirement savings, and capital income taxation and international competitiveness. Gravelle also includes a comprehensive history of tax institutions and data on constructing effective tax rates that are not available elsewhere.