Taxation and the Constitution
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منابع مشابه
Tax Policy With Quasi-Geometric Discounting
We study the effects of taxation in a model with a representative agent with time-inconsistent preferences: discounting is quasi-geometric. Utility is derived from consumption and leisure, and taxation can be based on consumption and investment spending as well as on capital and labor income. The model allows for closed-form solutions, and welfare comparisons can be made across different taxati...
متن کاملThe Welfare Effects of Switching from Consumption Taxation to Inflation Taxation in Iran’s Economy
The net effects of switching from consumption taxation to inflation taxation on resource allocation and welfare crucially depend on production externalities. With elastic labor supply, raising inflation taxation decreases leisure, but increases the levels of real consumption, capital, and output. Moreover, this tax switch has two opposing effects on the level of real money balances: A positive ...
متن کاملTaxation Cato Encyclopedia.PDF
Above the entrance to the headquarters of the Internal Revenue Service on Constitution Avenue is chiseled the quotation from Oliver Wendell Holmes: “Taxation is the price we pay for civilization.” It is easy enough to see why state officials would want to put that quotation on display, for it counsels people to be pleased with the taxes they pay. It’s not so easy, though, to determine the accur...
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Abstract T he return of capital is fundamental to the intertemporal allocation of resources by changing the consumption behavior and capital accumulation over time. Taxation on return of capital increases the marginal product of capital, meaning that capital stock is lower than when capital is not taxed, which results decreased growth and welfare in steady state. This pape...
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The recent literature on taxation and growth has stressed the optimality of a zero long-run taxation on all accumulative factors of production. For a given path of government spending, the optimal tax plan requires the government to build up a positive stock of public wealth in the short run in the long-run, government spending can be financed with the income accruing from the management of the...
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