Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 4 The Economics of the Public Sector Chapter 12 of 36 The Design of the Tax System Section 16 of 22 … Tax policy generates heated debates in American politics. The heat is rarely created over questions of tax efficiency. Rather, it arises from disagreements over tax burden distribution, over questions of equity. (For details check “What are aspects of an efficient tax and an equitable tax?” at ChatGPT or other AI information service). … The benefits principle of taxation holds people should pay taxes based on the benefits they receive from government services. This principle equates public goods to private goods. It seems fair a person who often goes to the movies must pay more in total for movie tickets than a person who rarely goes. Similarly a person who gets a large benefit from a public good should pay more for it than a person who gets little benefit. Revenues from the gasoline tax are commonly ...
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Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 4 The Economics of the Public Sector Chapter 12 of 36 The Design of the Tax System Section 15 of 22 … Marginal Tax Rates Versus Average Tax Rates. An average income tax rate is total taxes paid divided by total income. A marginal tax rate is the tax rate paid on income over a certain amount. Suppose the government taxes · 20 percent of the first $50,000 of income · 50 percent of all income above $50,000 Under this tax system, a person who makes $60,000 pays a total tax of $15,000 · 20 percent of the first $50,000 = $10,000 · 50 percent of the next $10,000 = $5,000 For this person · the average tax rate is $15,000 / $60,000, or 25 percent · the marginal tax rate, on income over $50,000, is 50 percent … … Other possible income tax systems include: Flat tax, same percentage of income tax for all earners. List of countries that use a flat tax for income tax (ao 250114). ChatGPT: Here is a list of countri...
Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 4 The Economics of the Public Sector Chapter 12 of 36 The Design of the Tax System Section 14 of 22 … Part of the inefficiency of a tax system is the administrative burden, including · time and money spent yearly prior to April 15 tax day by taxpayers filling out tax forms due to federal and state governments · time spent throughout the year keeping records for tax purposes · resources used by government to collect taxes and enforce the tax laws … Many taxpayers hire accountants and tax lawyers to help with their taxes, these experts fill out the tax forms for their clients and help their clients arrange their affairs to reduce the amount of taxes owed. Critics of our tax system say these advisers help their clients avoid taxes by abusing the “loophole” detailed provisions of the tax code. These loopholes in some cases are unintended, arising from ambiguities or omissions in the tax laws. … More often ...
Weight at 163 pounds, got to 160 pounds five years ago and have recently been bouncing between 163 and 170. Common sense ways to lose and keep off weight are eat right and light and get lots of exercise. Main exercise is walking, do 1~2 miles most days. Over career worked as a salesman in the steelmaking, fasteners, and auto manufacturing industries, lots of travel in U.S., Canada, Mexico, and Japan. Have visited every U.S. city with a major league, MLB, NFL, NBA, NHL, sports team except Sacramento, have gotten as close as Travis Air Force Base. Often traveled on Sundays, much time on the road so could not eat right and get enough exercise so got heavy, up to 200 lbs. Was on commission and made enough to retire early, now eat right and light, get enough exercise, and now am spending most time reading and writing. Our Wick branch goes back to the brother of owner of the Wick House at Morristown National Historical Park in Morristown New Jersey and on back to Staines England. Have ...
HAT Manifesto Part 1/3 - Rubric Cube - 241201 revision
HAT Manifesto part 1 of 3, December 1, 2024, always some edits… Rubric Cube Veracity and/or Efficacy Summary 1- The world we see that seems so insane is the result of a belief system that is not working. To perceive the world differently, we must be willing to change our belief system, let the past slip away, expand our sense of now, and dissolve the fear in our minds. - William James 2- All experience has shown mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. - Thomas Jefferson 3- Wherever good fortune enters, envy lays siege and attacks it. And when it departs, sorrow and repentance remain behind. - Leonardo da Vinci 4- Struggle is the indispensable accompaniment of progress. If men were entirely social, man would stagnate. A certain alloy of individualism and competition is required to make the human species survive and grow. Without qualities of an unsocial kind men might have led ...
HAT Manifesto Part 2/3 - Hypothesis and Novel Story Summary - 241006 revision
Years ago took a picture of a hawk sitting on a fence in the neighborhood and used it for this. The world we see that seems so insane is the result of a belief system that is not working. To perceive the world differently, we must be willing to change our belief system, let the past slip away, expand our sense of now, and dissolve the fear in our minds. - William James All experience has shown mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. - Thomas Jefferson Wherever good fortune enters, envy lays siege and attacks it. And when it departs, sorrow and repentance remain behind. - Leonardo da Vinci Struggle is the indispensable accompaniment of progress. If men were entirely social, man would stagnate. A certain alloy of individualism and competition is required to make the human species survive and grow. Without qualities of an unsocial kind men might have led an Arcadian shepherd life...