Why tax? A 10-minute semi-academic explanation Riga 13 October 2017

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Presentation transcript:

Why tax? A 10-minute semi-academic explanation Riga 13 October 2017 Morten Hansen Head of Economics Department, SSE Riga Member of the Fiscal Discipline Council of Latvia morten.hansen@sseriga.edu

Reasons for taxation Where the market economy ‘fails’….. Provision of public goods Correcting ‘wrong’ equilibria Income redistribution Addressing inequality issues

Other concerns Income taxes that maximize labour supply Taxes that limit the size of the grey economy Corporate taxes that stimulate investment and growth

Survey, Latvia, World Economic Forum’s Global Competitiveness Report 2017-18

Gini coefficient, EU28, 2015 The Baltic economies are quite unequal – by EU standards

GDP per capita (USD) against tax revenue EU28 (minus Lux and Ireland) Latvia Estonia Lithuania

GDP per capita (USD) against tax revenue EU28 (minus Lux and Ireland), adding USA

Brief conclusions No ‘ideal’ level of inequality No ‘ideal’ size of taxes to GDP Some Latvian taxes are counterproductive (social taxes) But the size of taxes etc. – a question of politics/values/beliefs

Thank you for your attention! Questions and comments are welcome Stockholm School of Economics in Riga Founded 1994

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