Chapter 12 The Desgn of the Tax System

Chapter 12 The Desgn of the Tax System -...

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Chapter 12: The Design of the Tax System Page 1 of 10 I. Questions we Can and Cannot Answer (Yet – Perhaps by end of class) 1. When Should the Gov’t Intervene? Market Failures Redistribution of Income 2. How Might the Gov’t intervene? a. Tax or Subsidy b. Regulations c. Public Provision 3. How big is the Gov’t? a. How does it receive revenues b. How does it spend money (expenditures) c. Historical lessons
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Page 3 of 10 Federal Tax 2010 Amount (billions) Amount per Person Percent of Receipts Individual Income Tax $899 $2,910 42% Payroll Taxes 865 2,799 40 Corporate Income Tax 191 618 9 Other 208 673 9 Total $2,163 $7,000 100% Federal Category Amount (billions) Amount per Person Percent of Receipts Social Security $707 $2,288 20% National Defense 694 2,246 20 Income Security 622 2,013 18 Medicare 452 1,463 13 Health 369 1,194 11 Net Interest 196 634 6 Other 416 1,346 12 Total $3,456 $11,184 100%
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Page 4 of 10 State Tax Amount (billions) Amount per Person Percent of Receipts Sales Tax
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This note was uploaded on 12/05/2011 for the course ECON 101 taught by Professor Dezhbakhsh during the Fall '07 term at Emory.

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Chapter 12 The Desgn of the Tax System -...

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