Lecture 17 April 8 - 2 How equitable should it be 3 When...

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Lecture 17 April 8, 2014 Goals: Establish the basics of taxation policy Consider larger philosophical debates related to taxation, including the tension between efficiency and equity Review of Attorney Josh Swanson’s presentation! What is one thing Mr. Swanson mentioned that surprised you/stuck with you? HMMMMMM…. The sheer amount of money involved surprised me I suppose.. The “option” (is apparently a new strategy) Only 5 courtroom cases in a year The lack of judges The definition of drilling Calculations-strategy of oil companies The surface vs. the mineral rights Talking about taxation! Marginal tax rate – for a certain range of income you are charged 10%, then the next range 15%, the next 25%, etc… Calculating Taxes Based on: 1. Marginal rates 2. Base Aggregate changes in base **Deductions are not costless **Deductions benefit some more than others Tax deduction (comes off of income made) vs. tax credit (comes off of taxes owed) Taxes: The Difficult Questions 1. To what extent should government be used in order to assure some equity?
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Unformatted text preview: 2. How equitable should it be? 3. When might efciency and equity complement each other? So what other policies, then, might be contribuTng to this inequality? My thoughts go to the healthcare system. How non-proft hospitals CEO’s are making millions oF dollars. We should frst redefne “non-proft” and then encourage such organizaTons within society. “It takes money to make money,” one oF the reasons banks are so pro±table InteresTng graph on explanaTon for inequality. PotenTal ExplanaTon ContribuTon to Inequality Demographics ImmigraTon 5 ²echnology Changes Decline oF labor union 20 InternaTonal ²rade Short-term versus Long –term EFciency Does the current inequality concern you? Why or why not? What do you think could be done about it now and by whom? (Just half a page. . Due ±hursday, April 10. .A²endance Credit) ²hursday we shall hear From a speaker that does work in the city oF ³argo ²uesday we will be ge´ng into new groups...
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