{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Intro to Taxation

Intro to Taxation - PAM2040 TypesofTaxation Income Earnings...

Info icon This preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
PAM2040 Introduction to Taxation
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Types of Taxation Income Individual income tax, capital gains tax, corporate income tax Earnings  Payroll tax Wealth Property tax, estate taxes Consumption Sales tax / excise tax
Image of page 2
Tax Policy Questions Can we devise tax systems that are more or less  “fair”? What should we tax?   Should certain economic agents not have to pay  taxes?
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Goal of “optimal” tax system Minimize  excess burden  of tax system – how  much worse off the tax has made the tax payer,  outside of tax collection There will  always  be some loss due to income  taxation Max U(X,H-L) st wL=(1+t)X MRS leisure, consumption =w/(1-t) MRT=value of labor in workplace = w MRS ~= MRT
Image of page 4
Measuring tax “fairness”  Marginal Tax Rate  – the tax you pay per next  dollar of income  (tax bracket) ti<15,100, mtr=0.10 ti>336,550, mtr=0.35
Image of page 5

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern