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just quick notes, since i don't have the time or background to write well on it...
purpose: fund-raising vs control/social-engineering/behavior-modification
types: inheritance; custom/import/duty; reseller's; property
related/see also: bonds; notes
capital gains tax
personal property tax
business inventory tax (includes busines equipment)
import taxes vs farm subsidies
imputed interest/income tax (on zero coupon bonds)
and just for humor, "The Microsoft Tax"
thanks -- WP
Single rate with threshold
I believe that this page should at least mention the point that the combination of a single tax rate applied only on the excess of income/capital above a threshold will be result in a progressive tax in that the average rate of tax will increase with income/capital. An example is the income tax system which has operated in Sweden where a highly progressive tax is delivered by the combination of a high tax threshold and a single (high) tax rate. Alan Peakall 13:11 Oct 24, 2002 (UTC)
"Inheritance taxes are extremely unpopular and many countries such as Canada and the United States have gotten rid of theirs or are in the process of doing so."
The first half of this is definitely not true. Personally I hate inheritance taxes too, but it's incorrect to assign that view to a majority of the residents of the US and Canada, especially with no time limitation. Many people find great satisfaction in knowing that the estate tax will punish 'the rich' on the assumption that the rich must have aquired their assets in some illicit or immoral manner. Envy has always been popular. Others argue in good faith that the estate tax is valuable in a social sense because it prevents families from becoming too powerful. And some argue that the estate tax saves the children of the wealthy from lives of unhappy idleness. Whatever the objective merits of those arguments, it is an objective fact that many people subjectively approve of inheritance taxes, regardless of whether they are objectively correct in doing so.
The quote's second half is also suspect. I don't know about Canada's inheritance tax, but the situation on the US Estate Tax is quite unclear. Most of the cuts in the federal tax have not really been cuts in federal revenue at all. Until the recent legislation, a portion of the revenue from the federal tax went to the states. The immediate change to the federal tax was to squeeze down on that money. The time has not yet come when the federal government will see serious reductions in its revenue from its estate tax. And many states are already considering state-level inheritance taxes independent of the federal tax to make up for the revenue they lost in the federal law change.
So it's much too broad to claim that the US is in the process of getting rid of its estate tax. There are reductions scheduled at the federal level, but those have not yet begun to really take hold. There is a scheduled repeal of the federal tax, but that lasts for only one year under rules that practically guarantee that Congress will revisit the issue. And it's entirely likely that many states will impose their own inheritance taxes, as they did before the federal government invented one.
I hate to cut the whole sentence because I don't really know what's going on in Canada. But I don't know how to rewrite it to make it true. On balance it's probably better to cut what I know is false than to leave something that might be true.
Well, in my opinion inheritance tax is a perfect tax - because you never actually pay it yourself. I suppose I'd better get over to inheritance to discuss the morality of the institution itself but as far as I am concerned if I inherit anything it is a windfall so I don't see why I shouldn't pay tax on it, since I pay tax on income I have earned or gain from dividends or capital gains. What's "envy" got to do with it? If one accepts that taxes are necessary (and of course it is possible to argue they are not) it makes sense for those with more money to pay more.
Why is Fair Tax top of the list, and so blatantly propagandic (not to mention POV)...
- I am removing the entire section; it is blatant propaganda and it doesn't even mention what "Fair Tax" does tax (it's a consumption tax)
Economics of Taxing a Good
I just finished making some large edits to this section. I think some of the language was technically confusing and a little inaccurate--for example "goods" don't have elasticities, curves do. Also, some of the previous text seemed to imply the graphs showed taxes on consumers, but the tax is clearly on producers in the diagrams.
How is it that taxing profits does not alter the structure of production? Entrepreneurs make production decisions based fundamentally on their profit calculation that the value (price) of the produced good will exceed the value (costs) of its factors. Any tax on profits must be included in this calculation, and therefore affect both the quantity and the structure of production. If this is the argument of a particular school of thought, it should be attributed.
Why does everyone have to pay taxes?...thats not fair
NPOV edit of propaganda
The following was excised from the article because nutty ideas and biased assertions of opinion don't belong here:
A Toll Tax is a tax that is collected anonymously and though this type of tax has been often used historically on roads and bridges, this type of tax has not been implemented as a sole or major revenue provider.
The greatest advantage to a toll tax being used as a sole provider of tax revenue that along with the anonymity it provides, the ability to automate allows for removal of the burden of tax regulation and collection.
The best example of this tax as a sole source tax is the: No Names No Numbers Tax which through such automation removes not only Internal Revenue Service and its huge tax burdens of regulation and bureaucracy; but removes both compliance costs a additional related tax burden that the people incur to comply with complicated tax regulations; and takes the crime of tax evasion which costs tax payers millions each year to incarcerate and keep such tax offenders; Turning the offense into a minimal traffic offense.
Through this tax all other taxes are abolished but for import which states collect for the federal government for it's operation, and use taxes which are limited to a particular use such as the gas tax for roads. Contribution by the American Patriot Party.
Taxation as a Political Pawn and Invasive Tool of Government
Taxation used for political posturing is often used to finance programs that will benefit the constituents of a particular political party.
Democrats and Republicans use taxes to finance social programs that benefit larger bureaucracies and to finance projects that benefit large constituent companies.
Both use the higher or lower tax stance to increase tax revenue ether by increased forced taxation or by increasing profitability through the greater economic growth. Neither has ever attempted to actually limit itself to tax based on the consent of the tax payer or to the minimal need of government to function. This is due to the 16th Amendment first deemed unconstitutional by the supreme court and later made as an amendment to make it so called "constitutional".
This gave the federal government a unlimited power to tax the general public and over throw the meanings of the 17th Grievance of the Declaration of Independence. With this power, Security of ones person, papers and effects became in jeopardy as the federal government through the use of income tax created a method to invade all affairs of business within the United States and that enters and leaves the United States. Contribution by the American Patriot Party.
Maybe we need a article regarding the politics of taxation...
Added Toll Tax and Use Tax (simple)
User: Richard Taylor APP
backward economies of India, Africa, et al
What exactly defines a "backward economy"? Isn't that more of an opinion? The world bank generally differentiates economies based on income. "Low income economies" might be more fitting.