Principles of Taxation

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Principles of Taxation Gary Klass Pos 232. Fairness? absolute equity – all benefit from government – all should pay equally (head tax) Ability to pay.

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Presentation transcript:

Principles of Taxation Fairness of Taxes Benefit Principle Ability to Pay Principle Types of Taxes Progressive Regressive Proportionate

Benefit Principle of Taxation Those who benefit from the spending of tax dollars should pay the taxes to provide the benefits. (Gasoline vs. Welfare)

Ability to Pay Principle Those who can best afford to pay taxes should pay most of the taxes.

Progressive taxes Takes a larger percentage of the higher incomes and a lower percentage of lower incomes. (Income Taxes)

Regressive Taxes Takes a larger percentage of lower incomes and a smaller percentage of higher incomes

Proportional taxes A tax that takes the same percentage of income from all tax payers.