LECTURE IX: Stylized Facts of Taxation

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Presentation transcript:

LECTURE IX: Stylized Facts of Taxation

Types of Taxation 1) Taxes on Earnings (payroll tax) 2) Taxes on Individual Income (individual income tax, capital gains tax) 3) Taxes on Corporate Income (corporate income tax) 4) Taxes on Wealth (property taxes, estate taxes) 5) Taxes on Consumption (sales taxes, excise taxes, value added tax)

Tax Categories Direct Taxes: payroll tax, individual income tax, wealth taxes) Indirect Taxes: Consumption taxes

Taxes and Fairness Vertical Equity (progressive, proportional, and regressive tax systems) Horizontal Equity