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Principles of Taxation

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Presentation on theme: "Principles of Taxation"— Presentation transcript:

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

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

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

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

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

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

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