From the Archives - Fraser Institute
... specific quantity of a specific good or service). The same is true for the counterparty to the transaction, the seller. He or she gives up something they value less (a specific quantity of a specific good or service) in exchange for something they value more (a specific amount of money). The resulti ...
... specific quantity of a specific good or service). The same is true for the counterparty to the transaction, the seller. He or she gives up something they value less (a specific quantity of a specific good or service) in exchange for something they value more (a specific amount of money). The resulti ...
At P*MKT
... making efficiency the first goal of economic interaction? A. Efficiency give the poor an incentive to improve their economic status. B. Since consensus on what is a fair distribution of goods is impossible, efficiency is the next best goal. C. People are not really concerned about the problems of th ...
... making efficiency the first goal of economic interaction? A. Efficiency give the poor an incentive to improve their economic status. B. Since consensus on what is a fair distribution of goods is impossible, efficiency is the next best goal. C. People are not really concerned about the problems of th ...
BOOK REVIEWS
... The hope and promise of supply-side economics was that it would replace Keynesian economics on two fronts: First, by providing a solidly based theoretical alternative to Keynesianism, and second, by providing politically attractive policy recommendations. The first objective has surely been accompli ...
... The hope and promise of supply-side economics was that it would replace Keynesian economics on two fronts: First, by providing a solidly based theoretical alternative to Keynesianism, and second, by providing politically attractive policy recommendations. The first objective has surely been accompli ...
Document
... Innovations can take various forms. Some innovations are the prototypical inventions; some are new theories of management or breakthroughs in the physical sciences. Many innovations improve production processes and these are often generated by employees. This is one reason why employee empowerment a ...
... Innovations can take various forms. Some innovations are the prototypical inventions; some are new theories of management or breakthroughs in the physical sciences. Many innovations improve production processes and these are often generated by employees. This is one reason why employee empowerment a ...
Derivation of Ramsey`s Optimal Tax Formula
... loss from all of the taxes. Notice that summing deadweight losses across goods makes some economic sense because deadweight loss is measured in dollars. As long as we are only thinking about the taxes to be levied on a single consumer, summing dollars also makes sense from a “social welfare” point o ...
... loss from all of the taxes. Notice that summing deadweight losses across goods makes some economic sense because deadweight loss is measured in dollars. As long as we are only thinking about the taxes to be levied on a single consumer, summing dollars also makes sense from a “social welfare” point o ...
Incidence of a tax
... Subsidy Payment reducing the buyer’s price below the seller’s price; i.e., a negative tax. A subsidy can be thought of as a negative tax. Like a tax, the benefit of a subsidy is split between buyers and sellers, depending on the relative elasticities of supply and demand. Conditions needed for the m ...
... Subsidy Payment reducing the buyer’s price below the seller’s price; i.e., a negative tax. A subsidy can be thought of as a negative tax. Like a tax, the benefit of a subsidy is split between buyers and sellers, depending on the relative elasticities of supply and demand. Conditions needed for the m ...
lump sum taxes
... all goods/services. This effect is present also with lump sum taxes and does not generate DWL because it is compensated by increased tax revenues, b) a substitution effect which induces a decline in the consumption of the taxed good relative to others, due to changes in relative prices. The DWL capt ...
... all goods/services. This effect is present also with lump sum taxes and does not generate DWL because it is compensated by increased tax revenues, b) a substitution effect which induces a decline in the consumption of the taxed good relative to others, due to changes in relative prices. The DWL capt ...
Principles of Taxation - Kellogg School of Management
... The authors find that “the capital gains tax rate changes in TRA97 led to an 8 percent decline in the share price of acquisitive UPREITs relative to REITs and non-acquisitive UPREITs, all relative to the same period in 1996.” “Thus it appears that acquisitive UPREITs, not building sellers, reape ...
... The authors find that “the capital gains tax rate changes in TRA97 led to an 8 percent decline in the share price of acquisitive UPREITs relative to REITs and non-acquisitive UPREITs, all relative to the same period in 1996.” “Thus it appears that acquisitive UPREITs, not building sellers, reape ...
Tax Reform Sept 19 2008
... A high rate (41.4% ) even before considering the double taxation of corporate income Strong disincentive for C-corp investment in Minnesota -Foreign Direct Investment in a state falls one percent for every one percent increase in the state corporate income tax rate. Source: Prof. Claudio A. Agostini ...
... A high rate (41.4% ) even before considering the double taxation of corporate income Strong disincentive for C-corp investment in Minnesota -Foreign Direct Investment in a state falls one percent for every one percent increase in the state corporate income tax rate. Source: Prof. Claudio A. Agostini ...
Current Food Taxes in BC
... dairy products, fruits, vegetables, meats and most items in bulk, including processed foods, and used for preparing foods and meals Food Taxes in BC ...
... dairy products, fruits, vegetables, meats and most items in bulk, including processed foods, and used for preparing foods and meals Food Taxes in BC ...
Australian Capital Territory
... The lower threshold is the highest sale price in the lowest 25% of all sale prices for residential properties for the two quarters between April 2004 and September 2004. I have determined this value to be $282,500. The upper threshold is the highest sale price in the lowest 65% of all sale price ...
... The lower threshold is the highest sale price in the lowest 25% of all sale prices for residential properties for the two quarters between April 2004 and September 2004. I have determined this value to be $282,500. The upper threshold is the highest sale price in the lowest 65% of all sale price ...
National Retail Sales Tax as a Replacement for Income Tax
... stated “Under our historic reform bill, American workers will take home 100 percent of their pay — less FICA withholding — and then they would decide how much they want to be taxed by how much they consume.” Some of the other benefits of this tax system, highlighted by Representatives Schaefer and T ...
... stated “Under our historic reform bill, American workers will take home 100 percent of their pay — less FICA withholding — and then they would decide how much they want to be taxed by how much they consume.” Some of the other benefits of this tax system, highlighted by Representatives Schaefer and T ...
Chapter 8 Application
... Some economists believe that the deadweight loss of taxes on labor in the U.S. is relatively small, while other economists believe that the deadweight loss is relatively large. What are the arguments employed to support these conflicting beliefs? ANSWER: Economists who believe that the deadweight l ...
... Some economists believe that the deadweight loss of taxes on labor in the U.S. is relatively small, while other economists believe that the deadweight loss is relatively large. What are the arguments employed to support these conflicting beliefs? ANSWER: Economists who believe that the deadweight l ...
Sustainable Urban Economics
... From Materialism to Mercantilism The fundamental problem of materialism as the basis of economic thought is that it corrupts both market exchange and the public provision of services. By trying to manage the physical form of a city and the location of various types of activity, public officials unwi ...
... From Materialism to Mercantilism The fundamental problem of materialism as the basis of economic thought is that it corrupts both market exchange and the public provision of services. By trying to manage the physical form of a city and the location of various types of activity, public officials unwi ...
Figure 11.1 A Price Distorting Tax Versus A Lump
... Because a tax on one good lowers the profit that can be made to firms producing it, they may shift their productive resources to the other good so as to maximize their after-tax rate-of-return in both markets. ...
... Because a tax on one good lowers the profit that can be made to firms producing it, they may shift their productive resources to the other good so as to maximize their after-tax rate-of-return in both markets. ...
PowerPoint Slides are available here
... •The deadweight loss or excess burden of a dollar of tax revenue measures the dollar value of all the bad decisions made because of taxation beyond the dollar of revenue collected. •Higher tax rates both reduce the quantity of economic activity and increase the average value of the lost economic act ...
... •The deadweight loss or excess burden of a dollar of tax revenue measures the dollar value of all the bad decisions made because of taxation beyond the dollar of revenue collected. •Higher tax rates both reduce the quantity of economic activity and increase the average value of the lost economic act ...
Fact Sheet #3: How Progressive is Canada`s Tax System?
... fair tax system is a progressive tax system, where people with higher incomes pay a greater share of their income in taxes. Growing evidence demonstrates that “fair is smart, that progressive taxes, where those who benefit most pay the greatest share, make good economic sense.”16 Fairness and equity ...
... fair tax system is a progressive tax system, where people with higher incomes pay a greater share of their income in taxes. Growing evidence demonstrates that “fair is smart, that progressive taxes, where those who benefit most pay the greatest share, make good economic sense.”16 Fairness and equity ...
Chapter 12
... Leads to decrease in quantity. Consumers pay more, monopolist nets less. Profits shrink. Despite its power, monopolists can suffer from taxation. ...
... Leads to decrease in quantity. Consumers pay more, monopolist nets less. Profits shrink. Despite its power, monopolists can suffer from taxation. ...
7/20/98 KUMF / KGPR T. M. Power Morality and Economic Choice
... great Montana historian, K. Ross Toole, who was a neighbor of mine up the Bitterroot, sneering at me one day as a bald eagle soared overhead: " …and just what value would you put on that, you ethical moron!," he jibed. Well, I obviously was not deterred by these taunts by people who were usually sym ...
... great Montana historian, K. Ross Toole, who was a neighbor of mine up the Bitterroot, sneering at me one day as a bald eagle soared overhead: " …and just what value would you put on that, you ethical moron!," he jibed. Well, I obviously was not deterred by these taunts by people who were usually sym ...
Energy Taxes and the Pretense of Knowledge
... producers and consumers: there are “external effects.” As a result the price of the energy source is said to be “too low” and the amount of it produced is said to be “too high”; the market “fails” to generate the “correct” output at the “correct” price. The standard solution is to tax the energy sou ...
... producers and consumers: there are “external effects.” As a result the price of the energy source is said to be “too low” and the amount of it produced is said to be “too high”; the market “fails” to generate the “correct” output at the “correct” price. The standard solution is to tax the energy sou ...
Chapter 6 Government Policy
... Is the deadweight loss of the taxed good less than the surplus gain from the subsidized good? ...
... Is the deadweight loss of the taxed good less than the surplus gain from the subsidized good? ...
Submission to Australia`s Future Tax System from John Passant
... I'd also suggest abolishing the CGT exemption on houses worth more than a set figure, such a figure being determined by the value the rich have in their houses (for example over $1 million.) I am sure Treasury could easily do the modelling (and probably already has). ...
... I'd also suggest abolishing the CGT exemption on houses worth more than a set figure, such a figure being determined by the value the rich have in their houses (for example over $1 million.) I am sure Treasury could easily do the modelling (and probably already has). ...
February 26, 2001
... MTAS legal consultant, Sid Hemsley advised that TCA 7-34-115 (a) (9) is the statute on water and wastewater and that absent a formula or method in this statute, a city can use some “reasonable” method for determining such payments that are not to “exceed the amount of taxes payable privately owned ...
... MTAS legal consultant, Sid Hemsley advised that TCA 7-34-115 (a) (9) is the statute on water and wastewater and that absent a formula or method in this statute, a city can use some “reasonable” method for determining such payments that are not to “exceed the amount of taxes payable privately owned ...
Interfield Microeconomics Ph.D. Qualification Examination Examiners: Borcherding, Denzau and Filson
... about their futures. If they take a job where they have to affirmatively check a box to “opt into” even a generously subsidized company pension savings plan, they tend in over half the cases to pass up that opportunity. On the other hand, if they have to check a box to “opt out,” well less than half ...
... about their futures. If they take a job where they have to affirmatively check a box to “opt into” even a generously subsidized company pension savings plan, they tend in over half the cases to pass up that opportunity. On the other hand, if they have to check a box to “opt out,” well less than half ...
Georgism
Georgism (also known as geoism and geonomics) is an economic philosophy holding that the economic value derived from land, including natural resources and natural opportunities, should belong equally to all residents of a community, but that people justly own value that they fairly create. The Georgist paradigm offers solutions to social and ecological problems, relying on principles of land rights and public finance which attempt to integrate economic efficiency with social justice. Georgism is consistent with free trade and the abolition of tariffs.Georgism is concerned with the just distribution of economic rent caused by natural monopolies, pollution, and the control of commons, including title over natural resources and other contrived privileges (e.g., intellectual property). Any natural resource, which is inherently limited in supply, can generate economic rent, but the classical and most significant example of 'land monopoly' involves the extraction of common ground rent from valuable urban locations.Georgists argue that taxing economic rent is efficient, fair, and equitable. The main Georgist policy tool is a fee assessed on location value, often referred to as a land value tax (LVT). Georgists argue that socially captured rents can reduce or eliminate existing taxes on labor and investment that are unfair or inefficient. Some Georgists also advocate for the return of surplus public revenue collected from economic rent back to the people through a basic income or citizen's dividend.Economists since Adam Smith have observed that, unlike other taxes, a public levy on land value does not cause economic inefficiency and even stimulates economic activity. A land value tax is often said to have progressive tax effects, in that it is paid primarily by the wealthy, and it cannot be passed on to tenants, workers, or users of land. Land value capture would reduce economic inequality, increase wages, remove incentives to misuse real estate, and reduce the vulnerability that economies face from credit and property bubbles.The philosophical basis of Georgism dates back to several early proponents such as John Locke, Baruch Spinoza, and Thomas Paine, but the concept of gaining public revenues from natural resource privileges was widely popularized by the economist and social reformer Henry George and his first book, Progress and Poverty.Henry George wrote that his plan would call upon people ""to contribute to the public, not in proportion to what they produce . . . but in proportion to the value of natural [common] opportunities that they hold [monopolize]."" He went on to explain that ""by taking for public use that value which attaches to land by reason of the growth and improvement of the community,"" it would, ""make the holding of land unprofitable to the mere owner, and profitable only to the user."" Under George's plan, it would be impossible for speculators to hold valuable natural opportunities like urban real estate unused or only partly used. George claimed this would have many benefits, including the reduction or removal of tax burdens from poorer neighborhoods and agricultural districts; the removal of a multiplicity of taxes and expensive obsolete government institutions; the elimination of corruption, fraud, and evasion in the collection of taxes; the enablement of true free trade; the destruction of monopolies; the elevation of wages to the full value of labor; the transformation of labor saving inventions into blessings for all; and the equitable distribution of comfort, leisure, and other advantages that are made possible by an advancing civilization.Where free competition is impossible, such as telegraphs, water, gas, and transportation, George wrote, ""[S]uch business becomes a proper social function, which should be controlled and managed by and for the whole people concerned."" Georgists were divided by this question of natural monopolies and often favored public ownership only of the rents from common rights-of-way, rather than public ownership of utility companies themselves.Georgist ideas were popular and influential. Political parties, institutions and communities were founded based on Georgist principles during that time. Early followers of George's philosophy called themselves Single Taxers, associated with the idea of raising public revenue exclusively from land and privileges, but the term is considered a misnomer because Georgists do not consider their proposals to be true taxes and they usually support multiple funding mechanisms. In classical and Georgist economics, the term 'land' is defined as all locations, natural opportunities, resources, physical forces, and government privileges over economic domains, which is closely related to the concept of commons. Georgism was coined later, and some prefer the term geoism or geonomics to distinguish their beliefs from those of Henry George.