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- DescriptionWhile most would agree that taxation should be fair, views as to what constitutes a fair tax vary. Ecomists and political philosophers since the days of Adam Smith have recognized two broad concepts of fair taxation. One such principle is kwn as the benefit principle, under which taxes should be levied in proportion to the benefits received from the public sector. Under this principle, it is the government's job to view taxes as the prices that would prevail in an actual market for the government service. The second principle is kwn as the ability to pay principle. This principle focuses only on the tax side of the budget, and views taxation as imposing an aggregate cost that must be apportioned in a manner that taxes those with equal ability to pay equally, and imposes greater burdens on those with greater ability to pay. This book discusses the fairness and tax policies in the U.S., and provides the 2011 distribution of household income and federal taxes.
- PublisherNova Science Publishers Inc
- Date of Publication01/08/2015
- SubjectFinance & Accounting
- Place of PublicationNew York
- Country of PublicationUnited States
- ImprintNova Science Publishers Inc
- Weight340 g
- Width155 mm
- Height230 mm
- Edited byTerry M. Brooks
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