Lecture 32a - Announcements HW due Monday! If you need...

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Announcements HW due Monday! If you need special accommodations for MT3, please make arrangements NOW! Bring your laptop on Friday Do experiment prep in Aplia (it’s kinda long) 1 of 35
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2 of 35 Taxes from Ch3 (p64) and Ch5 appendix (p120). But a lot of this stuff is not in the book.
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3 of 35 THE ECONOMICS OF TAXATION tax base The measure or value upon which a tax is levied. TAXES: BASIC CONCEPTS tax rate structure The percentage of a tax base that must be paid in taxes—25 percent of income, for example.
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TAXES Types of taxes The incidence of taxes The effect of taxes on behavior (distortion) 4 of 35
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TYPES OF TAXES Taxes on stocks Houses Cars Land WEALTH Taxes on Flows Income (Wages) Sales (Consumption) Profits Payroll 5 of 35
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6 of 35 TYPES OF TAXES Taxes on Flows Taxes on Economic “Flows”
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7 of 35 TYPES OF TAXES Federal Government Receipts 1960–2005 (billions of dollars) Individual Income Tax Corporation Income Tax
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Lecture 32a - Announcements HW due Monday! If you need...

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