Author: L Hart Wright Collegiate Professor of Law and Richard a Musgrave Collegiate Professor of Economics James Hines
Taxes are like the weather in one way: everyone complains about them. But how the government raises revenues is something that people can influence, as long as they have a good understanding of the stakes and options. Sensible Taxes and Practical Politics argues that American tax rates are too low and are indiscriminate. James Hines, a leading authority on tax policy, controversially posits that the base tax rate should be higher but there should also be more ability for individuals to reduce their taxes. This is the only way to create an equitable and efficient tax system makes distinctions among people and that treats them as individuals rather than classes. And as tax policy reflects societal values and goals, it is perfectly legitimate for it to create incentives by facilitating significant deductions for dependents, child care expenses, exceptional medical expenses, casualty losses, charitable contributions, education expenditures, and other expenses associated with employment and income production. While the headline tax rate may be high, the real rate, after deductions, is much lower. By contrast, the pursuit of lower baseline tax rates has, Hines shows, produced revenue shortfalls, inefficient incentives, and tax inequities. The current tax system creates distortions and is unfair because of the reduced provision for personal circumstances. It is also dishonest because it claims to be progressive but is not. The art of tax design entails tailoring tax burdens to collect revenue from activities that are least likely to be distorted by taxation. As for individuals, so too for business, Tax policy should treat preferentially firms and activities that might diminish or disappear if taxed heavily. Tax policy is a fundamental part of governance and encompasses difficult economic and political judgments. Hines provides an honest assessment of the interaction of politics, values, and taxes.
Practical, up-to-date coverage of all of the critical aspects of building and managing a successful, cost-effective government relations program that uses the newest technologies, offering special guidance for practitioners in both the public and private sectors.
Income tax by United States. Department of Justice
In this book, Chris Pierson argues that we will need to think quite differently about the British welfare state after COVID-19. He looks back to the welfare state’s origins and development as well as forwards, unearthing some surprising solutions in unexpected places.
Required Reading for Government Leaders A new innovative approach as to how to reform our income tax and social security system. This proposed new system provides a fair, sensible, practical and politically feasible way to change the way the government taxes its citizens. It addresses the problem of unfairness of high income persons paying a much lower percentage of their income in taxes as lower income average working persons by providing a new somewhat progressive rate schedule for capital gain income while not having the rates so high that investing in business and the economy is discouraged. It also maintains the social security system with simply a transition from the current method of funding to a system where what taxpayers pay in is entirely returned to them with interest and it is funded. The proposed new system also provides for a combined flat tax with a progressive tax that provides fairness along with reasonable tax revenues for operation of government. It also indicates that government should each year determine the level of revenue to the government by setting a maximum rate of tax to be extracted from its citizens and then setting a budget at or below that amount in place of what seems to be the current system of setting the budget in excess of projected revenues.
In the clear, vigorous, and candid prose that is his trade mark, Kent recalls his role in the crises and triumphs of the Pearson government: the "Sixty Days of Decision," Walter Gordon's first budget, the flag debate, Medicare, the elventh-hour negotiations with Jean Lesage that averted a constitutional rupture over the Canada Pension Plan, and, after 1965, Pearson's increasing exhaustion and disenchantment. From the Pearson years, the book moves to the Trudeau impact on Ottawa, the regional development program, and the disagreement on economic policy that led Kent to leave Ottawa in 1971.
At a time when the development community is grappling with the challenge of raising the required investment—estimated in the trillions of dollars—for attainment of the Sustainable Development Goals (SDGs), countries’ mobilization of their own fiscal revenues is receiving increasing attention. This edited volume discusses the political and institutional contexts that enable poor countries to mobilize domestic resources for global commitments and national development priorities. It examines the processes and mechanisms that connect the politics of resource mobilization and demands for social provision; changes in state-citizen, state-business and donor-recipient relations associated with resource mobilization and allocation; and governance reforms that can lead to improved and sustainable public revenues and services. The volume is unique in putting a spotlight on the political drivers of domestic resource mobilization in a rapidly changing global environment and in different country contexts in Latin America, Asia and sub-Saharan Africa. It will appeal to a broad academic audience in the fields of economics, development studies and social policy, as well as practitioners, activists and policy makers.
Amidst the debates about ‘austerity’ a number of vital debates in public finance have been sidelined. Because the reductions in government spending – small though they have been so far- have been designed to reduce the government’s borrowing requirement, there has been little discussion of whether the size of the state should be reduced in order to facilitate long-run reductions in the burden of taxation. This book traces the history of the growth of the size of the state over the last 100 years whilst also making international comparisons. There is a particular focus on recent and projected future developments which shows that, though the total level of government spending has not decreased significantly in recent years, there has been a big redirection of spending from some areas to others. The authors then examine the evidence on the relationship between taxation and economic growth. As well as reviewing recent literature, they also undertake new modelling that higher taxes are detrimental for growth. In the final part of the book, the whole UK tax system is reconsidered in a proper economic framework. The UK has one of the world’s most complex tax systems and its incoherence has increased over the last five years. Sweeping reforms are proposed to the system which wold involve abolishing around 20 taxes and the development of a simple, predictable tax system based on principles that should gain wide acceptance.
This volume offers a unique comparative perspective on post-war conservatism, as it traces the rise and mutations of conservative ideas in three countries – Britain, France and the United States - across a ‘short’ twentieth century (1929-1990) and examines the reconfiguration of conservatism as a transnational phenomenon. This framework allows for an important and distinctive point --the 1980s were less a conservative revolution than a moment when conservatism, understood in Burkean terms, was outflanked by its various satellites and political avatars, namely, populism, neoliberalism, reaction and cultural and gender traditionalism. No long running, unique ‘conservative mind’ comes out of this book’s transnational investigation. The 1980s did not witness the ascendancy of a movement with deep roots in the 18th century reaction to the French Revolution, but rather the decline of conservatism and the rise of movements and rhetoric that had remained marginal to traditional conservatism.