The Canons Of Good Taxation Essay

The last quarter of a century has seen a significant change in Dundee’s housing tenure. In 1981, less than 40% of dwelling stock was owner occupied. By 2010, this had risen to 61%. Although there has been a similar pattern of change across much of Europe, the change has been particularly dramatic in Dundee, and indeed Scotland. Mirroring changes in cultural attitudes toward home ownership, two structural factors have contributed to this shift. The introduction of the right to buy for public authority tenants in 1979 coupled with the decline of local authority new build, and the increased contribution of private sector house building.

One brother has 4 cookies. Another brother has 2 cookies. The brother with 4 cookies did 2x the work to get these cookies. Big brother come along and takes 3 of the first brother’s cookies but only 1 of the second because it’s only fair they have the same amount. How does the first brother feel? This analogy shows the current progressive system of tax and one reason it is flawed and unfair. If America had a flat tax it would leave the first brother with 3 cookies and the second with 1 and 1/2. Sound more fair? This is why America should have a modified flat tax system because it is more fair to the people, it will promote economic growth, and it will make paying taxes easier.

Last but not least, this policy brief suggests the government should remove the stamp duty – tax imposed on property purchases - for the first home buyer to enable their access to the housing market. Stamp duty often discourage people from buying and selling property. Thus, removing stamp duty would improve the supply of housing, as well as reducing a range of adverse impact on the housing market (The Treasury, 2009). Recently, the NSW Government has announced the decision to abolish the stamp duty for the properties worth up to $650,000 (targeting first home buyers) and it would save them up to $24,740 (NSW Government, 2017). This reform does bring a positive impact on housing affordability as it will help first home buyers to access the housing market at an affordable price in comparison to the past.

More than 35% of American adults are obese and as a consequence, are at increased risks for health issues such as heart disease, high blood pressure, and diabetes ("Overweight & Obesity"). The U.S. taxpayer is supplementing much of the cost to treat obesity related health issues through public health programs such as Medicare and Medicaid ("Economic Costs"). A positive externality will occur in the form of decreased health care expenditures on Medicare and Medicaid. The U.S. government should impose an excise tax on soda and other beverages that contain sugar. Consumers who drink excess sugary beverages impose a negative internality on their health; as well as imposing a negative externality on the American

The Stamp Act was introduced by the British Prime Minister, George Grenville and passed by the British Parliament in 1765, by means of raising revenue in the American colonies. The Stamp Act required all legal documents, licenses, commercial contracts, newspapers, pamphlets, and playing cards to carry a tax stamp. The money collected by the Stamp Act was to be used to help pay the costs of defending and protecting the American frontier near the Appalachian Mountains (10,000 troops were to be stationed on the American frontier for this purpose). –www.history.com

In Canada, there are three main government levels of taxation which are, Federal, through the Canadian Revenue Agency; Provincial / Territorial, through respective provincial/territorial finance or revenue departments; and Municipal, through local government. There are different types of taxes applied by these levels of government on consumers, wage earners, and businesses. The basic types of taxes include Income tax, derived from an individual's employment or a corporation's business revenues; Consumer taxes, imposed on the production, sale, or consumption of goods and services; Property taxes, derived from the sale and transfer of property, and Import / Export, based on the movement of goods across borders. The amount of tax each Canadian

The issue of taxes and different tax systems is arguably one of the most important issues to many Americans. Having an effective Tax Code is definitely important in maintaining a healthy economy; however, there are different perspectives when it comes to the rates and percentages that citizens pay.

There could have been outside elements that could have swayed Bush or Obama into extending the tax cuts but private interests were clearly involved to allow this to continue. Over the past couple of years, the government is faced with shut down because of law of funds and debt but still continue to allow the hyper wealthy and large conglomerates to continue to reap immense profits without paying their fair share.

Housing affordability is the relationship between household income and burden of housing costs and is an issue when it prevents population groups from accessing appropriate or secure housing. (3, 4) Australia has seen a severe escalation in rent and house prices that have not been matched by growth of household income. This decline in housing affordability is a result of economic growth, tax incentives for owners and investors, more accessible finance and population growths, which consequently result in an increased demand for housing. (3, 5) Moreover, this is further compounded by land and development limitations that restrict increases in housing

In 1979 under Thatcher 's reign, the conservative government published its housing bill promising with it the Right to buy. A popular demand at the time as people living in social houses aspired to finally own their home. At the time a blessing, however 30 years later we find that the bill promised the current generation housing at a discounted price. however, only at the expense of the next. The bill forbade local authorities from replacing the council houses sold in the right to buy system. Due to the nature of the right to buy properties, the houses sold were not empty nor was it available, many of the properties were already inhabited. Over the course of 30 years, over 2 million social houses were sold; as a result, there was a large demand for social housing which the local authorities could not meet. Subsequently due to heavily discounted prices of the houses, used to ensure that those vulnerable families are able to become home owners; not enough income was being generated in order to build a replacement home. Since local authorities could not replace them themselves, social landlords struggled to build enough to replace those sold through the right to buy. The bill also opened made way for private companies to abuse the bill and make profit out of properties previously owned by the local authority.

Housing affordability has become a bigger problem in Australia over the last two decades. There is a growing fear within the community that young people are being squeezed out of the housing market and may never own their own home. However rents are also on the rise, meaning that housing affordability has the potential to affect a wide range of the community. The main reasons for rising house prices and decreasing affordability are demand outstripping supply, banks lending practices and rising interest rates. While it may not be a good idea for the government to intervene directly in the housing market through policies such as direct subsidies, there are actions they can take to manage the problem, such regulatory measures for financial institutions,

This suggests that there should be a change in Australian housing policies to focus on taxes, land supply and land-use planning policy.

There has recently been some discussion about the lack of housing affordability and the effect that tax policy has on house prices. I have identified 4 tax policies and have discussed how each affects housing affordability and whether changing any of these taxes could cause housing to become more affordable.

The United States is in a recession; it has been facing some of the worse economic times since the Great Depression in the 1930’s. One option to fix the economy is to change the corporate tax rate. To lower it or to raise it, that is the question economists have been speculating. America's high corporate tax rate and worldwide system of taxation discourages U.S. companies from sending their foreign-source revenue home, which makes U.S. companies defenseless to foreign acquisition from the international opponents (Camp). Corporations and United States citizens have been fighting for a tax reform, which would hopefully help the American economy; either by lowering the corporate tax, or by raising the tax.

There are two things in life that are certain: death and taxes. In today's world, the majority of our government's income comes from taxation. A tax is not a voluntary payment or donation, but an enforced contribution imposed by government (Mikesell, 2011). Taxes are an amount of money collected from citizens, and they are used to provide public goods and services to benefit our communities. Taxes are amounts established in a political process of structured laws to determine how the collective cost of government services will be distributed among elements of the market economy. The two most important tax policies are the level of taxation, or how much taxes should be, and the structure of the system, or how revenue is to be raised