Liam Murphy and Thomas Nagel
- Published in print:
- 2002
- Published Online:
- November 2003
- ISBN:
- 9780195150162
- eISBN:
- 9780199833924
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195150163.001.0001
- Subject:
- Political Science, Political Theory
In a capitalist economy, taxes are the most significant instrument by which the political system can put into practice a conception of economic justice. But conventional ideas about what constitutes ...
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In a capitalist economy, taxes are the most significant instrument by which the political system can put into practice a conception of economic justice. But conventional ideas about what constitutes tax fairness--found in the vigorous debates about tax policy going on in political and public policy circles, in economics and law--are misguided. In particular, the emphasis on distributing the tax burden relative to pretax income is a fundamental mistake. Taxation does not take from people what they already own. Property rights are the product of a set of laws and conventions, of which the tax system forms a central part, so the fairness of taxes can’t be evaluated by their impact on preexisting entitlements. Pretax income has no independent moral significance. Standards of justice should be applied not to the distribution of tax burdens but to the operation and results of the entire framework of economic institutions. The result is an entirely different understanding of a host of controversial issues, such as the estate tax, the tax treatment of marriage, “flat” versus progressive taxes, consumption versus income taxes, tax cuts for the wealthy, and negative income taxes for the poor.Less
In a capitalist economy, taxes are the most significant instrument by which the political system can put into practice a conception of economic justice. But conventional ideas about what constitutes tax fairness--found in the vigorous debates about tax policy going on in political and public policy circles, in economics and law--are misguided. In particular, the emphasis on distributing the tax burden relative to pretax income is a fundamental mistake. Taxation does not take from people what they already own. Property rights are the product of a set of laws and conventions, of which the tax system forms a central part, so the fairness of taxes can’t be evaluated by their impact on preexisting entitlements. Pretax income has no independent moral significance. Standards of justice should be applied not to the distribution of tax burdens but to the operation and results of the entire framework of economic institutions. The result is an entirely different understanding of a host of controversial issues, such as the estate tax, the tax treatment of marriage, “flat” versus progressive taxes, consumption versus income taxes, tax cuts for the wealthy, and negative income taxes for the poor.
Chris Jones
- Published in print:
- 2005
- Published Online:
- July 2005
- ISBN:
- 9780199281978
- eISBN:
- 9780191602535
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199281971.001.0001
- Subject:
- Economics and Finance, Public and Welfare
Important results in the applied welfare literature are used to extend a conventional Harberger cost-benefit analysis. A conventional welfare equation is obtained for marginal policy changes in a ...
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Important results in the applied welfare literature are used to extend a conventional Harberger cost-benefit analysis. A conventional welfare equation is obtained for marginal policy changes in a general equilibrium economy with tax distortions. It is extended to accommodate internationally traded goods, time, income taxes, and non-tax distortions, including externalities, non-competitive behaviour, public goods, and price-quantity controls. The welfare analysis is developed in stages, and where possible is explained using diagrams, to make it more amenable to the different institutional arrangements encountered in applied work. Computable welfare expressions are solved using demand-supply elasticities. In a conventional cost-benefit analysis, lump sum transfers are used to separate the welfare effects of individual policy variables. This is important because it allows policy evaluation to be divided across specialist agencies. These transfers are carefully examined to identify the important role played by the marginal social cost of public funds (MCF) in policy evaluation when governments balance their budgets with distorting taxes. This book separates income effects for marginal policy changes in the shadow value of government revenue. As a scaling coefficient that converts efficiency effects into dollar changes in private surplus, it makes income effects irrelevant in single (aggregated) consumer economies, and conveniently isolates distributional effects in heterogeneous consumer economies. This decomposition is used to test for Pareto improvements, and to examine the separate, but related roles of the shadow value of government revenue and the MCF in applied work.Less
Important results in the applied welfare literature are used to extend a conventional Harberger cost-benefit analysis. A conventional welfare equation is obtained for marginal policy changes in a general equilibrium economy with tax distortions. It is extended to accommodate internationally traded goods, time, income taxes, and non-tax distortions, including externalities, non-competitive behaviour, public goods, and price-quantity controls. The welfare analysis is developed in stages, and where possible is explained using diagrams, to make it more amenable to the different institutional arrangements encountered in applied work. Computable welfare expressions are solved using demand-supply elasticities. In a conventional cost-benefit analysis, lump sum transfers are used to separate the welfare effects of individual policy variables. This is important because it allows policy evaluation to be divided across specialist agencies. These transfers are carefully examined to identify the important role played by the marginal social cost of public funds (MCF) in policy evaluation when governments balance their budgets with distorting taxes. This book separates income effects for marginal policy changes in the shadow value of government revenue. As a scaling coefficient that converts efficiency effects into dollar changes in private surplus, it makes income effects irrelevant in single (aggregated) consumer economies, and conveniently isolates distributional effects in heterogeneous consumer economies. This decomposition is used to test for Pareto improvements, and to examine the separate, but related roles of the shadow value of government revenue and the MCF in applied work.
Steven A. Bank
- Published in print:
- 2010
- Published Online:
- May 2010
- ISBN:
- 9780195326192
- eISBN:
- 9780199775811
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195326192.001.0001
- Subject:
- Law, Legal History
The U.S. corporate income tax — and in particular the double taxation of corporate income — has long been one of the most criticized and stubbornly persistent aspects of the federal revenue system. ...
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The U.S. corporate income tax — and in particular the double taxation of corporate income — has long been one of the most criticized and stubbornly persistent aspects of the federal revenue system. Unlike in most other industrialized countries, corporate income is taxed twice, first at the entity level and again at the shareholder level when distributed as a dividend. The conventional wisdom has been that this double taxation was part of the system's original design over a century ago and has survived despite withering opposition from business interests. In both cases, history tells another tale. Double taxation as it is known today did not appear until several decades after the corporate income tax was first adopted. Moreover, it was embraced by corporate representatives at the outset and in subsequent years businesses have been far more ambivalent about its existence than is popularly assumed. From Sword to Shield: The Transformation of the Corporate Income Tax, 1861 to Present is the first historical account of the evolution of the corporate income tax in America. It explains the origins of corporate income tax and the political, economic, and social forces that transformed it from a sword against evasion of the individual income tax to a shield against government and shareholder interference with the management of corporate funds.Less
The U.S. corporate income tax — and in particular the double taxation of corporate income — has long been one of the most criticized and stubbornly persistent aspects of the federal revenue system. Unlike in most other industrialized countries, corporate income is taxed twice, first at the entity level and again at the shareholder level when distributed as a dividend. The conventional wisdom has been that this double taxation was part of the system's original design over a century ago and has survived despite withering opposition from business interests. In both cases, history tells another tale. Double taxation as it is known today did not appear until several decades after the corporate income tax was first adopted. Moreover, it was embraced by corporate representatives at the outset and in subsequent years businesses have been far more ambivalent about its existence than is popularly assumed. From Sword to Shield: The Transformation of the Corporate Income Tax, 1861 to Present is the first historical account of the evolution of the corporate income tax in America. It explains the origins of corporate income tax and the political, economic, and social forces that transformed it from a sword against evasion of the individual income tax to a shield against government and shareholder interference with the management of corporate funds.
Susan Hurley
- Published in print:
- 2006
- Published Online:
- May 2006
- ISBN:
- 9780199281688
- eISBN:
- 9780191603747
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199281688.003.0008
- Subject:
- Political Science, Political Theory
This essay considers the implications of self-interest for equality in the context of the ‘luck egalitarian’ view that an individual’s wealth is justly owned only if it is the result of a responsible ...
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This essay considers the implications of self-interest for equality in the context of the ‘luck egalitarian’ view that an individual’s wealth is justly owned only if it is the result of a responsible choice. A possible response to Cohen’s argument against incentives might be that since individuals can choose to work harder on behalf of the disadvantaged, they are also partly responsible for, and entitled to, the extra wealth they produce. This view is rejected, noting that were the tax rate adjusted to accommodate responsibility for being productive, it would whittle away the benefits of productivity for redistributive purposes.Less
This essay considers the implications of self-interest for equality in the context of the ‘luck egalitarian’ view that an individual’s wealth is justly owned only if it is the result of a responsible choice. A possible response to Cohen’s argument against incentives might be that since individuals can choose to work harder on behalf of the disadvantaged, they are also partly responsible for, and entitled to, the extra wealth they produce. This view is rejected, noting that were the tax rate adjusted to accommodate responsibility for being productive, it would whittle away the benefits of productivity for redistributive purposes.
Sean D. Ehrlich
- Published in print:
- 2011
- Published Online:
- January 2012
- ISBN:
- 9780199737536
- eISBN:
- 9780199918645
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199737536.001.0001
- Subject:
- Political Science, American Politics
Access Points develops a new theory about how democratic institutions influence policy outcomes. Access Point Theory argues that the more points of access that institutions provide to ...
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Access Points develops a new theory about how democratic institutions influence policy outcomes. Access Point Theory argues that the more points of access that institutions provide to interest groups, the cheaper lobbying will be, and, thus, the more lobbying will occur. This will lead to more complex policy, as policymakers insert specific provisions to benefit special interests, and, if one side of the debate has a lobbying advantage, to more biased policy, as the advantaged side is able to better take advantage of the cheaper lobbying. This book then uses Access Point Theory to explain why some countries have more protectionist and more complex trade policies than others; why some countries have stronger environmental and banking regulations than others; and why some countries have more complicated tax codes than others. In policy area after policy area, this book finds that more access points lead to more biased and more complex policy. Access Points provides scholars a powerful tool to explain how political institutions matter and why countries implement the policies they do.Less
Access Points develops a new theory about how democratic institutions influence policy outcomes. Access Point Theory argues that the more points of access that institutions provide to interest groups, the cheaper lobbying will be, and, thus, the more lobbying will occur. This will lead to more complex policy, as policymakers insert specific provisions to benefit special interests, and, if one side of the debate has a lobbying advantage, to more biased policy, as the advantaged side is able to better take advantage of the cheaper lobbying. This book then uses Access Point Theory to explain why some countries have more protectionist and more complex trade policies than others; why some countries have stronger environmental and banking regulations than others; and why some countries have more complicated tax codes than others. In policy area after policy area, this book finds that more access points lead to more biased and more complex policy. Access Points provides scholars a powerful tool to explain how political institutions matter and why countries implement the policies they do.
A. B. Atkinson
- Published in print:
- 1996
- Published Online:
- November 2003
- ISBN:
- 9780198292166
- eISBN:
- 9780191595875
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198292163.001.0001
- Subject:
- Economics and Finance, Public and Welfare
The book provides an introduction to the key ideas of public economics. For this purpose, it takes as a case study the proposal for a basic income financed by a flat tax on all income. This radical ...
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The book provides an introduction to the key ideas of public economics. For this purpose, it takes as a case study the proposal for a basic income financed by a flat tax on all income. This radical reform of the income tax and social security systems has generated wide interest. The book reviews different areas of public economics: the theory of optimum taxation, public choice theory, general equilibrium analysis of incidence, numerical tax‐benefit modelling, and econometric studies of work incentives. The author does not argue for or against the basic income proposal but believes that it should be on the agenda for serious discussion.Less
The book provides an introduction to the key ideas of public economics. For this purpose, it takes as a case study the proposal for a basic income financed by a flat tax on all income. This radical reform of the income tax and social security systems has generated wide interest. The book reviews different areas of public economics: the theory of optimum taxation, public choice theory, general equilibrium analysis of incidence, numerical tax‐benefit modelling, and econometric studies of work incentives. The author does not argue for or against the basic income proposal but believes that it should be on the agenda for serious discussion.
Agnar Sandmo
- Published in print:
- 2000
- Published Online:
- November 2003
- ISBN:
- 9780198297987
- eISBN:
- 9780191596858
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/019829798X.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The book is an application of the modern theory of public economics to central issues in the design of environmental policy. Ch. 1 reviews the basic issues in a simple partial equilibrium framework. ...
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The book is an application of the modern theory of public economics to central issues in the design of environmental policy. Ch. 1 reviews the basic issues in a simple partial equilibrium framework. In Ch. 2, the environment is incorporated in a general equilibrium framework, emphasizing the perspective on the environment as a public good and the use of taxes as a means of correcting market failure. Ch. 3 analyses policies that are alternatives to taxes, such as regulations and quotas, and Ch. 4 reviews alternative methods of assessing the social benefits from environmental policies. Ch. 5 sets the design of environmental taxes in the framework of optimal tax theory and makes clear the need to see such taxes as parts of the overall tax system. Ch. 6 is concerned with various notions of the double dividend from green taxes and raises the issue of whether environmental taxes lower the marginal cost of public funds. Finally, Ch. 7 takes up international and political economy aspects of environmental policy.Less
The book is an application of the modern theory of public economics to central issues in the design of environmental policy. Ch. 1 reviews the basic issues in a simple partial equilibrium framework. In Ch. 2, the environment is incorporated in a general equilibrium framework, emphasizing the perspective on the environment as a public good and the use of taxes as a means of correcting market failure. Ch. 3 analyses policies that are alternatives to taxes, such as regulations and quotas, and Ch. 4 reviews alternative methods of assessing the social benefits from environmental policies. Ch. 5 sets the design of environmental taxes in the framework of optimal tax theory and makes clear the need to see such taxes as parts of the overall tax system. Ch. 6 is concerned with various notions of the double dividend from green taxes and raises the issue of whether environmental taxes lower the marginal cost of public funds. Finally, Ch. 7 takes up international and political economy aspects of environmental policy.
Max. M Edling
- Published in print:
- 2003
- Published Online:
- January 2005
- ISBN:
- 9780195148701
- eISBN:
- 9780199835096
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195148703.003.0013
- Subject:
- Political Science, American Politics
Presents the Antifederalist objections to a stronger national government in the “fiscal‐military” sphere, with this chapter looking closely at Antifederalist objections to the federal fiscal powers ...
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Presents the Antifederalist objections to a stronger national government in the “fiscal‐military” sphere, with this chapter looking closely at Antifederalist objections to the federal fiscal powers of the US Constitution, and the answers of the Federalists to these. Only rarely did the Antifederalists raise any objections to the right of Congress to borrow money, but the fact that they seemed to accept that public borrowing might sometimes be necessary did not mean that they accepted the need for an unlimited federal power over taxation. In their opposition to the Constitution's tax clauses, the Antifederalists continued an Anglo‐American political tradition of opposition against state growth that in turn is but an instant of a universal resistance to the centralization of power characteristic of early modern Europe. The Antifederalist opposition centered on the future role of the state legislatures: in Antifederalist thought the state assembly had come to take on the function filled by the House of Commons in English “Country” thought, so it was regarded as a crucial barrier against government abuse and as the only institution that made possible taxation with the consent of the governed.Less
Presents the Antifederalist objections to a stronger national government in the “fiscal‐military” sphere, with this chapter looking closely at Antifederalist objections to the federal fiscal powers of the US Constitution, and the answers of the Federalists to these. Only rarely did the Antifederalists raise any objections to the right of Congress to borrow money, but the fact that they seemed to accept that public borrowing might sometimes be necessary did not mean that they accepted the need for an unlimited federal power over taxation. In their opposition to the Constitution's tax clauses, the Antifederalists continued an Anglo‐American political tradition of opposition against state growth that in turn is but an instant of a universal resistance to the centralization of power characteristic of early modern Europe. The Antifederalist opposition centered on the future role of the state legislatures: in Antifederalist thought the state assembly had come to take on the function filled by the House of Commons in English “Country” thought, so it was regarded as a crucial barrier against government abuse and as the only institution that made possible taxation with the consent of the governed.
Max. M Edling
- Published in print:
- 2003
- Published Online:
- January 2005
- ISBN:
- 9780195148701
- eISBN:
- 9780199835096
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195148703.003.0014
- Subject:
- Political Science, American Politics
Shows how the Federalists responded to the Antifederalist objections to a stronger national government in the “fiscal‐military” sphere, thereby creating an understanding of the kind of state that was ...
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Shows how the Federalists responded to the Antifederalist objections to a stronger national government in the “fiscal‐military” sphere, thereby creating an understanding of the kind of state that was proper to American conditions. In the debate over ratification of the US Constitution there was little discussion about the exact way in which the Federalists intended to organize the revenue administration, but nevertheless, it is the argument of this chapter that with the important exception of the assumption of the state debts, the general outline of Hamiltonian public finance was in place in 1787, and widely shared by the supporters of the Constitution. Thus, the idea that the least oppressive tax was also the most productive, the claim that adoption of the Constitution would mean a change in the structure of taxation from direct to indirect taxes and a reliance on the impost (customs duties), and the ideal of the federal government as a “waterfront state” hardly noticed by the people, were all among the most important points made in Federalist rhetoric on the fiscal powers of the Constitution. In the ratifying debate, the Federalists presented a solution to the equation of how to create a sufficiently powerful government without making unacceptable demands on society: the federal government had the right to mobilize the full resources of society at will, but in peacetime it would keep a very low profile while assuming the payment of the union's debts and the cost of defense using money raised by taxation. This federal assumption of expenses that had earlier been carried by the states, and the mode of raising the taxes to pay for it ensured that overall taxation would not increase, as the Antifederalists claimed, but would become less burdensome to the majority of the people.Less
Shows how the Federalists responded to the Antifederalist objections to a stronger national government in the “fiscal‐military” sphere, thereby creating an understanding of the kind of state that was proper to American conditions. In the debate over ratification of the US Constitution there was little discussion about the exact way in which the Federalists intended to organize the revenue administration, but nevertheless, it is the argument of this chapter that with the important exception of the assumption of the state debts, the general outline of Hamiltonian public finance was in place in 1787, and widely shared by the supporters of the Constitution. Thus, the idea that the least oppressive tax was also the most productive, the claim that adoption of the Constitution would mean a change in the structure of taxation from direct to indirect taxes and a reliance on the impost (customs duties), and the ideal of the federal government as a “waterfront state” hardly noticed by the people, were all among the most important points made in Federalist rhetoric on the fiscal powers of the Constitution. In the ratifying debate, the Federalists presented a solution to the equation of how to create a sufficiently powerful government without making unacceptable demands on society: the federal government had the right to mobilize the full resources of society at will, but in peacetime it would keep a very low profile while assuming the payment of the union's debts and the cost of defense using money raised by taxation. This federal assumption of expenses that had earlier been carried by the states, and the mode of raising the taxes to pay for it ensured that overall taxation would not increase, as the Antifederalists claimed, but would become less burdensome to the majority of the people.
Raymond G. Batina and Toshihiro Ihori
- Published in print:
- 2000
- Published Online:
- October 2011
- ISBN:
- 9780198297901
- eISBN:
- 9780191685361
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198297901.001.0001
- Subject:
- Economics and Finance, Financial Economics
The purpose of this book is to introduce the substantial literature on consumption tax policy and the taxation of capital income, the early literature on optimal tax theory in dynamic overlapping ...
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The purpose of this book is to introduce the substantial literature on consumption tax policy and the taxation of capital income, the early literature on optimal tax theory in dynamic overlapping generations' models, the more recent literature on optimal taxation in the Ramsey growth model and models of endogenous growth, and the literature on taxation in open economies. The book summarises the main arguments for and against consumption taxation, presents the main theoretical and empirical results of the technical literature, and, finally, extends the literature in a number of useful ways by complicating the models used to study tax issues. These extensions include bequeathing behaviour, the time consistency problem, the capital levy, charity and privately produced public goods, environmental externalities and renewable resources, durable goods and land, and money used in exchange and as an asset. Chapters are self-contained as far as possible, and each uses a variety of models rather than just one to study the issue at hand. Models and notation are explained each time they are used.Less
The purpose of this book is to introduce the substantial literature on consumption tax policy and the taxation of capital income, the early literature on optimal tax theory in dynamic overlapping generations' models, the more recent literature on optimal taxation in the Ramsey growth model and models of endogenous growth, and the literature on taxation in open economies. The book summarises the main arguments for and against consumption taxation, presents the main theoretical and empirical results of the technical literature, and, finally, extends the literature in a number of useful ways by complicating the models used to study tax issues. These extensions include bequeathing behaviour, the time consistency problem, the capital levy, charity and privately produced public goods, environmental externalities and renewable resources, durable goods and land, and money used in exchange and as an asset. Chapters are self-contained as far as possible, and each uses a variety of models rather than just one to study the issue at hand. Models and notation are explained each time they are used.
Partha Dasgupta
- Published in print:
- 1995
- Published Online:
- November 2003
- ISBN:
- 9780198288350
- eISBN:
- 9780191596094
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198288352.003.0009
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The main part of this chapter discusses decentralization and central guidance in relation to resource allocation. There are seven sections: (1) competitive mechanisms in the private realm; (2) the ...
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The main part of this chapter discusses decentralization and central guidance in relation to resource allocation. There are seven sections: (1) competitive mechanisms in the private realm; (2) the existence of competitive equilibrium; (3) competitive markets and efficiency; (4) the implementation of just allocations in the private realm; (5) pluralism and exchange restrictions (exchange control) in the public realm; (6) producer versus consumer taxation; and (7) national income in a pluralist society. An extra and separate section (designated Chapter *7) gives a theoretical presentation on real national income as a measure of general well-being.Less
The main part of this chapter discusses decentralization and central guidance in relation to resource allocation. There are seven sections: (1) competitive mechanisms in the private realm; (2) the existence of competitive equilibrium; (3) competitive markets and efficiency; (4) the implementation of just allocations in the private realm; (5) pluralism and exchange restrictions (exchange control) in the public realm; (6) producer versus consumer taxation; and (7) national income in a pluralist society. An extra and separate section (designated Chapter *7) gives a theoretical presentation on real national income as a measure of general well-being.
Max. M Edling
- Published in print:
- 2003
- Published Online:
- January 2005
- ISBN:
- 9780195148701
- eISBN:
- 9780199835096
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195148703.003.0012
- Subject:
- Political Science, American Politics
Provides the layout of the Federalist argument that Congress had to possess an unlimited power to raise men and money from American society without any intervention from the states. While the ...
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Provides the layout of the Federalist argument that Congress had to possess an unlimited power to raise men and money from American society without any intervention from the states. While the following chapter looks in greater depth at Antifederalist objections to the federal fiscal powers of the US Constitution, here the concern is solely with the restrictions to this power that they suggested in the form of amendments. The reasons are discussed as to why the Federalists refused to accept these Antifederalist amendments (and indeed any restrictions on the fiscal power of Congress other than those already written into the Constitution), repeatedly and forcefully making it clear why it was crucial that no restrictions be placed on the right of Congress to extract money from society by means of taxation. The different sections of the chapter argue that the need for an unbridled federal right to raise tax revenue arose from the conviction that Congress had to have full command over all the resources of the nation in times of crisis. Primarily, this was needed so that the government could borrow money abroad and at home, which suggests that the Federalists designed the Constitution as much for future challenges as for present problems, and that for this reason, they refused to let the powers of the national government be defined by the demands on the union existing in the late 1780s, but instead strove to create a government with powers sufficiently extensive to safeguard the union's future existence, in peace as well as in war.Less
Provides the layout of the Federalist argument that Congress had to possess an unlimited power to raise men and money from American society without any intervention from the states. While the following chapter looks in greater depth at Antifederalist objections to the federal fiscal powers of the US Constitution, here the concern is solely with the restrictions to this power that they suggested in the form of amendments. The reasons are discussed as to why the Federalists refused to accept these Antifederalist amendments (and indeed any restrictions on the fiscal power of Congress other than those already written into the Constitution), repeatedly and forcefully making it clear why it was crucial that no restrictions be placed on the right of Congress to extract money from society by means of taxation. The different sections of the chapter argue that the need for an unbridled federal right to raise tax revenue arose from the conviction that Congress had to have full command over all the resources of the nation in times of crisis. Primarily, this was needed so that the government could borrow money abroad and at home, which suggests that the Federalists designed the Constitution as much for future challenges as for present problems, and that for this reason, they refused to let the powers of the national government be defined by the demands on the union existing in the late 1780s, but instead strove to create a government with powers sufficiently extensive to safeguard the union's future existence, in peace as well as in war.
Kenneth Newton and Maria A. Confalonieri
- Published in print:
- 1998
- Published Online:
- November 2003
- ISBN:
- 9780198294740
- eISBN:
- 9780191598838
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198294743.003.0006
- Subject:
- Political Science, Comparative Politics
Examines the economic, political, and social bases of public support for, and opposition to, the tax regimes of Western Europe, finding that the political basis outweighs the other two. The chapter ...
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Examines the economic, political, and social bases of public support for, and opposition to, the tax regimes of Western Europe, finding that the political basis outweighs the other two. The chapter concentrates on the issue of progressive income tax and the related matter of income redistribution. Both progressive taxation and income redistribution are important principles of modern taxation systems and their underlying goals of equality and opportunity. Taxes are often a central issue in modern election campaigns. Most citizens pay income taxes, and most have clear and strong views about them. For these reasons, these two principles are important topics for political science research and are well suited to the surveys of mass opinion.Less
Examines the economic, political, and social bases of public support for, and opposition to, the tax regimes of Western Europe, finding that the political basis outweighs the other two. The chapter concentrates on the issue of progressive income tax and the related matter of income redistribution. Both progressive taxation and income redistribution are important principles of modern taxation systems and their underlying goals of equality and opportunity. Taxes are often a central issue in modern election campaigns. Most citizens pay income taxes, and most have clear and strong views about them. For these reasons, these two principles are important topics for political science research and are well suited to the surveys of mass opinion.
James A. Mirrlees
- Published in print:
- 2004
- Published Online:
- January 2005
- ISBN:
- 9780199278558
- eISBN:
- 9780191601590
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199278555.003.0010
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter, together with chs. 2 and 11, approaches the question of development funding in a theoretical way, rather than by examining individual proposals for sources. One purpose of the book is ...
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This chapter, together with chs. 2 and 11, approaches the question of development funding in a theoretical way, rather than by examining individual proposals for sources. One purpose of the book is to bring to bear on this accumulated knowledge in the field of national public finance, and more generally public economics. Consequently, a discussion of global public finance/economics is presented here that considers the lessons from optimal tax design when applied at a global level. The different sections of the chapter look at: global taxation; taxation for aid; the possibility of an international agreement whereby income taxation is applied to nationals (rather than residents) and countries report people's income to their country of nationality (international allocation of tax bases); supranational taxation; subsidies and transfers; voluntary contributions and taxation; and development assistance expansion. An appendix considers the conditions for marginal tax rates to be independent of the revenue requirement.Less
This chapter, together with chs. 2 and 11, approaches the question of development funding in a theoretical way, rather than by examining individual proposals for sources. One purpose of the book is to bring to bear on this accumulated knowledge in the field of national public finance, and more generally public economics. Consequently, a discussion of global public finance/economics is presented here that considers the lessons from optimal tax design when applied at a global level. The different sections of the chapter look at: global taxation; taxation for aid; the possibility of an international agreement whereby income taxation is applied to nationals (rather than residents) and countries report people's income to their country of nationality (international allocation of tax bases); supranational taxation; subsidies and transfers; voluntary contributions and taxation; and development assistance expansion. An appendix considers the conditions for marginal tax rates to be independent of the revenue requirement.
Olivia S. Mitchell, Stephen P. Utkus, and Tongxuan (Stella) Yang
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780199204656
- eISBN:
- 9780191603822
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199204659.003.0010
- Subject:
- Economics and Finance, Financial Economics
This chapter explores why employers or plan sponsors design their 401(k) plans the way they do. Drawing on a rich dataset of over five hundred 401(k) plans, it shows that these plans are principally ...
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This chapter explores why employers or plan sponsors design their 401(k) plans the way they do. Drawing on a rich dataset of over five hundred 401(k) plans, it shows that these plans are principally a form of tax-motivated compensation under the restriction of federal non-discrimination rules. In other words, to appeal to better-paid workers, employers offer more generous monetary and non-monetary plan design features. At the same time, complex federal tax rules restrict pay discrimination in favor of the highly-paid employees.Less
This chapter explores why employers or plan sponsors design their 401(k) plans the way they do. Drawing on a rich dataset of over five hundred 401(k) plans, it shows that these plans are principally a form of tax-motivated compensation under the restriction of federal non-discrimination rules. In other words, to appeal to better-paid workers, employers offer more generous monetary and non-monetary plan design features. At the same time, complex federal tax rules restrict pay discrimination in favor of the highly-paid employees.
Iain Mclean and Jennifer Nou
- Published in print:
- 2009
- Published Online:
- February 2010
- ISBN:
- 9780199546954
- eISBN:
- 9780191720031
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199546954.003.0005
- Subject:
- Political Science, Comparative Politics, UK Politics
1909 Budget and Lords' veto. Land tax. Lloyd George's strategy: partial success 1909 and failure 1914. What the Permanent Secretary was up to. Parliament Act 1911 and royal vetoes. Temporary ...
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1909 Budget and Lords' veto. Land tax. Lloyd George's strategy: partial success 1909 and failure 1914. What the Permanent Secretary was up to. Parliament Act 1911 and royal vetoes. Temporary expansion in number of veto players.Less
1909 Budget and Lords' veto. Land tax. Lloyd George's strategy: partial success 1909 and failure 1914. What the Permanent Secretary was up to. Parliament Act 1911 and royal vetoes. Temporary expansion in number of veto players.
James W. Cortada
- Published in print:
- 2007
- Published Online:
- January 2008
- ISBN:
- 9780195165869
- eISBN:
- 9780199868025
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195165869.003.0002
- Subject:
- Business and Management, Business History
One of the largest and most pervasive uses of computers by all governments across the American economy has been for accounting applications. While the fundamental missions and tasks have not changed ...
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One of the largest and most pervasive uses of computers by all governments across the American economy has been for accounting applications. While the fundamental missions and tasks have not changed over time, how the work of accounting, financial, and tax departments has been accomplished has. This chapter discusses the introduction and use of computing in tax filing, collections, and compliance. Topics covered include the Internal Revenue Service, state tax and financial applications, local government tax applications, and the adoption of software tools by tax preparers and payers.Less
One of the largest and most pervasive uses of computers by all governments across the American economy has been for accounting applications. While the fundamental missions and tasks have not changed over time, how the work of accounting, financial, and tax departments has been accomplished has. This chapter discusses the introduction and use of computing in tax filing, collections, and compliance. Topics covered include the Internal Revenue Service, state tax and financial applications, local government tax applications, and the adoption of software tools by tax preparers and payers.
Stephen Tindale and Chris Hewett
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780198294894
- eISBN:
- 9780191599064
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198294891.003.0010
- Subject:
- Political Science, Environmental Politics
Stephen Tindale and Chris Hewett analyse one of the most‐discussed policy tools available to politicians for moving towards sustainability: environmental taxation. Such taxation is usually regarded ...
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Stephen Tindale and Chris Hewett analyse one of the most‐discussed policy tools available to politicians for moving towards sustainability: environmental taxation. Such taxation is usually regarded as regressive and therefore socially unjust – one reason sustainability and justice are sometimes regarded as pulling in opposite directions. Tindale and Hewett argue against this assumption via an examination of domestic fuel and transport taxes, showing how environmental taxation can be made progressive with careful design and attention to surrounding fiscal conditions. They also say that the greatest cause of poverty is unemployment, and that a package of measures to stimulate environmental industries would do much to bring sustainability and justice into alignment.Less
Stephen Tindale and Chris Hewett analyse one of the most‐discussed policy tools available to politicians for moving towards sustainability: environmental taxation. Such taxation is usually regarded as regressive and therefore socially unjust – one reason sustainability and justice are sometimes regarded as pulling in opposite directions. Tindale and Hewett argue against this assumption via an examination of domestic fuel and transport taxes, showing how environmental taxation can be made progressive with careful design and attention to surrounding fiscal conditions. They also say that the greatest cause of poverty is unemployment, and that a package of measures to stimulate environmental industries would do much to bring sustainability and justice into alignment.
Ole Borre and Elinor Scarbrough (eds)
- Published in print:
- 1998
- Published Online:
- November 2003
- ISBN:
- 9780198294740
- eISBN:
- 9780191598838
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198294743.001.0001
- Subject:
- Political Science, Comparative Politics
This book is the third in the ‘Beliefs in government’ series, and examines the effects of the post‐war arrival of the welfare state in the countries of Western Europe. The welfare state inaugurated a ...
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This book is the third in the ‘Beliefs in government’ series, and examines the effects of the post‐war arrival of the welfare state in the countries of Western Europe. The welfare state inaugurated a vast expansion in the role of government, which led to fears that the increased expectations of citizens would lead to government overload and to ‘ungovernability’. This book sheds new and surprising light on such fears. It begins by examining the expanding scope of government in the post‐war period. Drawing on a vast data set, stretching back over the past two decades and across Europe, it clarifies public attitudes towards the range and extent of government activity. It identifies changes in the public's political agenda, along with attitudes towards the size of government, taxation, and the equality and security goals of the welfare state. Attitudes towards government intervention in the economy, the environment, and the media are also examined. The book's final chapters assess the significance for governments of beliefs about the scope of the government.Less
This book is the third in the ‘Beliefs in government’ series, and examines the effects of the post‐war arrival of the welfare state in the countries of Western Europe. The welfare state inaugurated a vast expansion in the role of government, which led to fears that the increased expectations of citizens would lead to government overload and to ‘ungovernability’. This book sheds new and surprising light on such fears. It begins by examining the expanding scope of government in the post‐war period. Drawing on a vast data set, stretching back over the past two decades and across Europe, it clarifies public attitudes towards the range and extent of government activity. It identifies changes in the public's political agenda, along with attitudes towards the size of government, taxation, and the equality and security goals of the welfare state. Attitudes towards government intervention in the economy, the environment, and the media are also examined. The book's final chapters assess the significance for governments of beliefs about the scope of the government.
Lane Kenworthy
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199550593
- eISBN:
- 9780191720727
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199550593.003.0008
- Subject:
- Political Science, Comparative Politics, Political Economy
Tax rates and tax structures differ markedly across the rich countries, and play a key role in reducing inequality but may also reduce employment. This chapter addresses the following questions: do ...
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Tax rates and tax structures differ markedly across the rich countries, and play a key role in reducing inequality but may also reduce employment. This chapter addresses the following questions: do taxes reduce inequality directly, or do they contribute to redistribution chiefly by providing the revenue for transfers? To what extent does globalization constrain governments' ability to maintain large and progressive tax systems? Have countries been moving toward more or less redistributive types of taxation? Do taxes in fact impede employment? The chapter argues that a tax policy conducive to low income inequality and high employment should have four principal features: taxes should generate a high level of revenues, in order to finance generous transfers and services; the tax system should be progressive, or at worst minimally regressive; payroll and consumption taxes should be moderate, so as not to impede employment growth in low-end services; and to encourage investment and entreneurship and prevent capital flight, there should be a relatively low statutory rate and a not-too-high effective tax rate on capital.Less
Tax rates and tax structures differ markedly across the rich countries, and play a key role in reducing inequality but may also reduce employment. This chapter addresses the following questions: do taxes reduce inequality directly, or do they contribute to redistribution chiefly by providing the revenue for transfers? To what extent does globalization constrain governments' ability to maintain large and progressive tax systems? Have countries been moving toward more or less redistributive types of taxation? Do taxes in fact impede employment? The chapter argues that a tax policy conducive to low income inequality and high employment should have four principal features: taxes should generate a high level of revenues, in order to finance generous transfers and services; the tax system should be progressive, or at worst minimally regressive; payroll and consumption taxes should be moderate, so as not to impede employment growth in low-end services; and to encourage investment and entreneurship and prevent capital flight, there should be a relatively low statutory rate and a not-too-high effective tax rate on capital.
