Spending Without Taxation
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Author | : Gene Park |
Publisher | : Stanford University Press |
Total Pages | : 338 |
Release | : 2011-03-25 |
Genre | : Political Science |
ISBN | : 0804773300 |
Annotation This work demonstrates how the Fiscal Investment Loan Program (FILP) enabled the Japanese government to run a neo-classical fiscal policy based on low budget spending from the end of the 1940s to 1970.
Author | : Edward J. McCaffery |
Publisher | : University of Chicago Press |
Total Pages | : 194 |
Release | : 2008-09-15 |
Genre | : Business & Economics |
ISBN | : 0226555666 |
Everyone knows that the current tax system is unfair. Some of the richest people in America pay no tax, while a huge share of the tax burden falls on the rest of us. A mere glance at the tax code confirms that it is far too complex, with volumes of rules that no ordinary person could possibly comprehend. What is to be done? Some conservatives have called for a so-called flat tax. But a flat tax is not necessarily a simple tax, and "flat" means "more" for most taxpayers: a rise in middle-class taxes to finance tax cuts for the rich. Is there another choice? In clear, easy-to-understand language, Edward J. McCaffery proposes a straightforward and fair alternative. A "fair not flat" tax that is consistent and progressive would tax spending, not income and savings. And if it were collected at its lower levels through a national sales tax, most people would not have to file a return. A supplemental tax on spending for the wealthiest individuals would make the national sales tax progressive. Under McCaffery's system, a family of four would pay no tax on their first $20,000 in spending, and 15 percent on the next $60,000. Only the few families who spend more than $80,000 a year would be subject to the supplemental tax. Necessities would be taxed less than ordinary and luxury items. No one would be taxed directly on savings. The estate and gift or so-called death tax would be abolished, for the simple reason that dead people don't spend. The "fair not flat" tax would fall on heirs when and as they spend their good fortune. Perhaps best of all, most Americans would not have to fill out tax returns. Simpler, more efficient, fairer, and more reflective of America's current social values, McCaffery's "fair not flat" tax could help get us out of the tax mess that politicians and special interests have gotten us into, improving the whole country in the process. Read Fair Not Flat to find out how. “In Fair Not Flat, Mr. McCaffery lays out the case for a consumption tax. He does so in a reader-friendly way, presenting his argument with very few footnotes, equations or technical terms. The consumption of the book, so to speak, is not at all taxing. And its argument is well worth pondering.”—Bruce Bartlett, Wall Street Journal
Author | : David McKnight |
Publisher | : Penguin |
Total Pages | : 161 |
Release | : 2020-11-17 |
Genre | : Business & Economics |
ISBN | : 0593327756 |
The follow-up to the bestselling The Power of Zero, providing a blueprint to build a guaranteed, tax-free income stream that lasts for the long run. American retirees face a looming crisis. We are living longer than ever before, and most experts predict a dramatic rise in tax rates within the next ten years. The hard truth is that no matter how much you save, you are likely to outlive your money or watch it be taxed into oblivion. But when traditional retirement distribution strategies won't provide sufficient income in the face of higher taxes, what can you do? Tax-Free Income for Life lays out a comprehensive, step-by-step roadmap for a secure retirement. McKnight shows how the combination of guaranteed, inflation-adjusted lifetime income and a proactive asset-shifting strategy can shield you from longevity risk and the cascade of unintended consequences that result from higher taxes. It's an innovative and proven strategy that maximizes return while effectively neutralizing the two biggest risks to retirement savings. If ever there were a solution for the American retiree, it's guaranteed tax-free income for life.
Author | : United States. Department of the Treasury |
Publisher | : |
Total Pages | : 12 |
Release | : 1975 |
Genre | : Revenue |
ISBN | : |
Author | : Mr.Daniel Leigh |
Publisher | : International Monetary Fund |
Total Pages | : 41 |
Release | : 2011-07-01 |
Genre | : Business & Economics |
ISBN | : 1455294691 |
This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.
Author | : Gene Park |
Publisher | : Stanford University Press |
Total Pages | : 515 |
Release | : 2011-03-25 |
Genre | : Political Science |
ISBN | : 0804777667 |
Governments confront difficult political choices when they must determine how to balance their spending. But what would happen if a government found a means of spending without taxation? In this book, Gene Park demonstrates how the Japanese government established and mobilized an enormous off-budget spending system, the Fiscal Investment Loan Program (FILP), which drew on postal savings, public pensions, and other funds to pay for its priorities and reduce demands on the budget. Park's book argues that this system underwrote a distinctive postwar political bargain, one that eschewed the rise of the welfare state and Keynesianism, but that also came with long-term political and economic costs that continue to this day. By drawing attention to FILP, this study resolves key debates in Japanese politics and also makes a larger point about public finance, demonstrating that governments can finance their activities not only through taxes but also through financial mechanisms to allocate credit and investment. Such "policy finance" is an important but often overlooked form of public finance that can change the political calculus of government fiscal choices.
Author | : Philip Booth |
Publisher | : London Publishing Partnership |
Total Pages | : 256 |
Release | : 2016-11-01 |
Genre | : Political Science |
ISBN | : 025536735X |
Amidst the debates about ‘austerity’ a number of vital debates in public finance have been sidelined. Because the reductions in government spending – small though they have been so far- have been designed to reduce the government’s borrowing requirement, there has been little discussion of whether the size of the state should be reduced in order to facilitate long-run reductions in the burden of taxation. This book traces the history of the growth of the size of the state over the last 100 years whilst also making international comparisons. There is a particular focus on recent and projected future developments which shows that, though the total level of government spending has not decreased significantly in recent years, there has been a big redirection of spending from some areas to others. The authors then examine the evidence on the relationship between taxation and economic growth. As well as reviewing recent literature, they also undertake new modelling that higher taxes are detrimental for growth. In the final part of the book, the whole UK tax system is reconsidered in a proper economic framework. The UK has one of the world’s most complex tax systems and its incoherence has increased over the last five years. Sweeping reforms are proposed to the system which wold involve abolishing around 20 taxes and the development of a simple, predictable tax system based on principles that should gain wide acceptance.
Author | : Jean Chatzky |
Publisher | : Simon and Schuster |
Total Pages | : 178 |
Release | : 2010-08-10 |
Genre | : Juvenile Nonfiction |
ISBN | : 1416994734 |
For the first time, financial guru and TODAY Show regular Jean Chatzky brings her expertise to a young audience. Chatzky provides her unique, savvy perspective on money with advice and insight on managing finances, even on a small scale. This book will reach kids before bad spending habits can get out of control. With answers and ideas from real kids, this grounded approach to spending and saving will be a welcome change for kids who are inundated by a consumer driven culture. This book talks about money through the ages, how money is actually made and spent, and the best ways for tweens to earn and save money.
Author | : Carolyn Webber |
Publisher | : Simon & Schuster |
Total Pages | : 760 |
Release | : 1986 |
Genre | : Business & Economics |
ISBN | : |
In this comprehensive analysis of social systems of taxation and budgeting, the authors provide detailed examples from ancient Mesopotamia and Egypt, Greece and Rome, the Middle Ages in Europe, and modern times to show how governments through the ages have raised money and spent it. They examine the two essential activities of government--taxing and spending--against the background of the societies in which they were imbedded and the development of government's administrative capacities. They also argue that government mobilization of resources involves critical human concerns--waging war and providing for the welfare of the people. ISBN 0-671-54617-1: $24.95.
Author | : Oregon. Office of the Secretary of State |
Publisher | : |
Total Pages | : 232 |
Release | : 1895 |
Genre | : Oregon |
ISBN | : |