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Tax Reform
Tax reform is the process of changing the way taxes are collected or managed by the government and is usually undertaken to improve tax administration or to provide economic or social benefits. Tax reform can include reducing the level of taxation of all people by the government, making the tax system more progressive or less progressive, or simplifying the tax system and making the system more understandable or more accountable. Numerous organizations have been set up to reform tax systems worldwide, often with the intent to reform income taxes or value added taxes into something considered more economically liberal. Other reforms propose tax systems that attempt to deal with externalities. Such reforms are sometimes proposed to be revenue-neutral, for example in revenue neutrality of the FairTax, meaning they ought not result in more tax or less being collected. Georgism claims that various forms of land tax can both deal with externalities and improve productivity. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxes
A tax is a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities. Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax relief. The first known taxation occurred in Ancient Egypt around 3000–2800 BC. Taxes consist of direct or indirect taxes and may be paid in money or as labor equivalent. All countries have a tax system in place to pay for public, common societal, or agreed national needs and for the functions of government. Some countries levy a flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of yearly income amounts. Most countries charge a tax on an individual's income and corporate income. Cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ageing Population
Ageing (or aging in American English) is the process of becoming older until death. The term refers mainly to humans, many other animals, and fungi; whereas for example, bacteria, perennial plants and some simple animals are potentially biologically immortal. In a broader sense, ageing can refer to single cells within an organism which have ceased dividing, or to the population of a species. In humans, ageing represents the accumulation of changes in a human being over time and can encompass physical, psychological, and social changes. Reaction time, for example, may slow with age, while memories and general knowledge typically increase. Of the roughly 150,000 people who die each day across the globe, about two-thirds die from age-related causes. Current ageing theories are assigned to the damage concept, whereby the accumulation of damage (such as DNA oxidation) may cause biological systems to fail, or to the programmed ageing concept, whereby the internal processes (e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George W
George Walker Bush (born July 6, 1946) is an American politician and businessman who was the 43rd president of the United States from 2001 to 2009. A member of the Bush family and the Republican Party (United States), Republican Party, he is the eldest son of the 41st president, George H. W. Bush, and was the 46th governor of Texas from 1995 to 2000. Bush flew warplanes in the Texas Air National Guard in his twenties. After graduating from Harvard Business School in 1975, he worked in the oil industry. He later co-owned the Major League Baseball team Texas Rangers (baseball), Texas Rangers before being elected governor of Texas 1994 Texas gubernatorial election, in 1994. Governorship of George W. Bush, As governor, Bush successfully sponsored legislation for tort reform, increased education funding, set higher standards for schools, and reformed the criminal justice system. He also helped make Texas the Wind power in Texas, leading producer of wind-generated electricity in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Revenue Service
The Internal Revenue Service (IRS) is the revenue service for the Federal government of the United States, United States federal government, which is responsible for collecting Taxation in the United States, U.S. federal taxes and administering the Internal Revenue Code, the main body of the federal statutory tax law. It is an agency of the United States Department of the Treasury, Department of the Treasury and led by the Commissioner of Internal Revenue, who is appointed to a five-year term by the President of the United States. The duties of the IRS include providing tax assistance to taxpayers; pursuing and resolving instances of erroneous or fraudulent tax filings; and overseeing various benefits programs, including the Affordable Care Act. The IRS originates from the Commissioner of Internal Revenue, a federal office created in 1862 to assess the nation's first income tax to fund the American Civil War. The temporary measure funded over a fifth of the Union's war expens ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Reform Act Of 1986
The Tax Reform Act of 1986 (TRA) was passed by the 99th United States Congress and signed into law by President Ronald Reagan on October 22, 1986. The Tax Reform Act of 1986 was the top domestic priority of President Reagan's second term. The act lowered federal income tax rates, decreasing the number of tax brackets and reducing the top tax rate from 50 percent to 28 percent. The act also expanded the earned income tax credit, the standard deduction, and the personal exemption, removing approximately six million lower-income Americans from the tax base. Offsetting these cuts, the act increased the alternative minimum tax and eliminated many tax deductions, including deductions for rental housing, individual retirement accounts, and depreciation. Although the tax reform was projected to be revenue-neutral, it was popularly referred to as the second round of Reagan tax cuts (following the Economic Recovery Tax Act of 1981). The bill passed with majority support in both the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Single Tax
A single tax is a system of taxation based mainly or exclusively on one tax, typically chosen for its special properties, often being a tax on land value. Pierre Le Pesant, sieur de Boisguilbert and Sébastien Le Prestre de Vauban were early advocates for a single tax, but, rejecting the claim that land has certain economic properties which make it uniquely suitable for taxation, they instead proposed a flat tax on all incomes. In the late 19th and early 20th century, a populist single tax movement emerged which also sought to levy a single tax on the rental value of land and natural resources, but for somewhat different reasons. This "Single Tax" movement later became known as Georgism, after its most famous proponent, Henry George. It proposed a simplified and equitable tax system that upholds natural rights and whose revenue is based exclusively on ground and natural resource rents, with no additional taxation of improvements such as buildings. Some libertarians adv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Henry George
Henry George (September 2, 1839 – October 29, 1897) was an American political economist, Social philosophy, social philosopher and journalist. His writing was immensely popular in 19th-century America and sparked several reform movements of the Progressive Era. He inspired the economic philosophy known as Georgism, the belief that people should own the value they produce themselves, but that the economic value of land (economics), land (including natural resources) should belong equally to all members of society. George famously argued that a single tax on land values would create a more productive and just society. His most famous work, ''Progress and Poverty'' (1879), sold millions of copies worldwide. The treatise investigates the paradox of increasing inequality and poverty amid economic and technological progress, the business cycle with its cyclic nature of industrialized economies, and the use of rent capture such as land value taxation and other anti-monopoly reforms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Financial Review
The ''Australian Financial Review'' (''AFR'') is an Australian compact daily newspaper with a focus on business, politics and economic affairs. The newspaper is based in Sydney, New South Wales, and has been published continuously since its founding in 1951. It is currently owned by Nine Entertainment. The ''AFR'' is published in tabloid format six times a week, and provides 24/7 coverage through its website and mobile app. In November 2019, the ''AFR'' reached 2.647 million Australians through both print and digital mediums according to Mumbrella.SMH, AFR and The Age all report audience growth in November Mumbrella 2020 The ''Australian Financial Review'' started as a print-only |
News
News is information about current events. This may be provided through many different Media (communication), media: word of mouth, printing, Mail, postal systems, broadcasting, Telecommunications, electronic communication, or through the testimony of Witness, observers and witnesses to events. News is sometimes called "hard news" to differentiate it from soft media. Subject matters for news reports include war, government, politics, education, health, economy, business, fashion, sport, entertainment, and the Climate change, environment, as well as quirky or unusual events. Government proclamations, concerning Monarchy, royal ceremonies, laws, taxes, public health, and Crime, criminals, have been dubbed news since ancient times. Technology, Technological and Social change, social developments, often driven by government communication and espionage networks, have increased the speed with which news can spread, as well as influenced its content. Throughout history, people have ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Distortion
In neoclassical economics, a market distortion is any event in which a market reaches a market clearing price for an item that is substantially different from the price that a market would achieve while operating under conditions of perfect competition and state enforcement of legal contracts and the ownership of private property. A distortion is "any departure from the ideal of perfect competition that therefore interferes with economic agents maximizing social welfare when they maximize their own". A proportional wage-income tax, for instance, is distortionary, whereas a lump-sum tax is not. In a competitive equilibrium, a proportional wage income tax discourages work. In perfect competition with no externalities, there is zero distortion at market equilibrium of supply and demand where price equals marginal cost for each firm and product. More generally, a measure of distortion is the deviation between the market price of a good and its marginal social cost, that is, the diffe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
