...The increasing national debt is of great concern to our economy and to our nation. There have been debates about which tax policy to use and I believe that the progressive tax that we have is the right option. Besides the tax policy, government spending is also a major factor that increases the national debt. We have to choose where the money should go to make sure we keep the debt down. Last year 53.71% of the discretionary spending went to the military and I feel that we need to reduce that and put the money towards education. I believe that the public would agree with my plan to go with the progressive tax and also my plan of decreasing spending on military to increase spending on education. The progressive tax policy takes a larger percentage of income from high-income earners compared to low-income individuals. This tax will help our economy by making sure that even low income earners will have income left behind to spend on goods and services. The consumption tax would lead to less demand for goods and services which would not help our economy. When consumers see that the product price is very high they would choose to save instead of spending their money. Flat tax is an unfair way to tax the public even though it proposes that everyone pay the same rate. This would hurt low income earners because...
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...The Nigerian tax system has undergone several reforms geared at enhancing tax collection and administration with minimal enforcement cost. The recent reforms include the introduction of TIN, (unique Taxpayer’s Identification Number which became effective since February 2008), automated tax system that facilitates tracking of tax positions and issues by individual taxpayers, e-payment system which enhances smooth payment procedure and reduces the incidence of tax touts, enforcement scheme (Special Purpose Tax officers), these are special tax officers in collaboration with other security agencies to ensure strict compliance in payment of taxes. The tax authority now has autonomy to assess, collect and record tax. This enabling environment which came into being on the basis of (Section 8(q) of FIRS Establishment Act 2007) has led to an improvement in tax administration in the country. The Nigerian tax system has undergone significant changes in recent times. The tax laws are consistently being reviewed with the aim of repealing obsolete provisions and simplifying the main ones. Under current Nigerian law, taxation is enforced by the 3 tiers of government, i.e. federal, state, and local governments, with each having its sphere clearly spelt out in the Taxes and Levies (approved list for Collection) Decree, 1998. Despite this improvement, there are still a number of contentious issues that require urgent attention and among them is the issue of the appropriate tax authority to administer...
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...UNIVERSITY OF LIBERIA An Assessment of Tax Policy in Liberia: A Case Study of the Property Tax Division at the Ministry of Finance, 2006 – 2010 BY MORRIS A. KIAZOLU, JR. (BSC – Economics- 1999, BBA – Accounting - 2003) A Thesis Submitted to the Graduate Program in Business and Public Administration in Partial Fulfillment as Requirement for Master Degree in Business Administration – MBA/Accounting, UL November 2011 TABLE OF CONTENTS Page Declaration i Abstract ii Acknowledgement iv Dedication v 1.0 CHAPTER ONE: INTRODUCTION 1.1 Introduction 1 1.2 Background to the Study 2 1.3 Statement of the Problem 3 1.4 Purpose of the Study 4 1.5 Research Questions 4 1.6 Significance of the Study ...
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...debate, my team argued for expanding fiscal policy, however, in my personal opinion, I fear fiscal policy is too easily abused by politicians seeking reelection and the support of wealthy constituents. In this paper, I will analyze how how politicians have chosen to expand fiscal policy in ways that favor the wealthy and do not improve economic equality. Supporters of fiscal policy claim that cutting taxes enables the American to increase their savings, consumption, and investment (7). While tax cuts were observed in the 1920s and 1960s, expansive fiscal policy tax cuts quickly became associated with a neoliberal capitalist approach to governing, also including ideas surrounding deregulation, privatization, reduction of social services,...
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...President Obama, Americans have now endured six years of tax increases, endless regulation, vast new federal programs and $8 trillion in added debt. The president told us this “stimulus” would jump-start the economy. Instead, we got an anemic economy growing at barely 2% a year. Some call this “the new normal”—but it isn’t something we can accept if we are going to restore the opportunity for every American to rise and achieve earned success. Restoring the right to rise in America requires accelerating growth, and that can’t be done without a complete overhaul of the U.S. tax code. Today, the tax code is a labyrinth littered with thousands of special-interest giveaways, subsidies and other breaks written to favor Washington insiders....
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... Role in International Tax Policy A Research and Policy Brief for the Use of the NGO Committee on Financing for Development Hamrawit Abebe, Ryan Dugan, Michael McShane, Julie Mellin, Tara Patel, and Linda Patentas Graduate Program in International Affairs, Milano School of International Affairs, Management, and Urban Policy, The New School March 7, 2012 TABLE OF CONTENTS EXECUTIVE SUMMARY BACKGROUND AND PERSPECTIVES BACKGROUND AND ANALYSIS THE OECD, G77, G20, AND EU ON UPGRADING THE UN TAX COMMITTEE KEY INSTITUTIONAL PLAYERS ARGUMENTS FOR AND AGAINST A UN TAX BODY 3 4 8 12 17 REFLECTIONS AND RECOMMENDATIONS RELATIONSHIP BETWEEN OECD AND UN TAX COMMITTEE GLOBAL TAX POLICIES POLICY RECOMMENDATIONS 20 28 38 APPENDIX GLOSSARY AND ACRONYMS REFERENCES 44 48 52 2 Executive Summary The report provides an analytical view on the role of the United Nations in tax policy, highlighting the interventions made by and challenges to key players in attempts to streamline global tax cooperation. The first section of the paper provides a background on the importance of tax related issues, emphasizing its importance within the Monterrey Consensus. Debates are introduced between two key institutional players regarding global tax cooperation, the OECD’s Committee on Fiscal Affairs and the UN Tax Committee. Views from key players the OECD, Group of 77, Group of 20, and European Union are addressed in the areas of international tax cooperation, the inclusion...
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...American tax system is one of the most complexes in the world, it has many codes and it’s difficult for an ordinary citizen without formal training to understand. Due to its complexity and impact it has on business, economy and politics it has always attracted a lot of attention. There is a continuing discussion that takes place among politicians, economists, tax practitioners, and others about making changes to our federal and state tax systems. Some of the proposed changes are fundamental in that they would, for example, replace the federal income tax with a consumption tax. Other people propose varying degrees of change to the existing federal tax system, like adding or expanding tax incentives to encourage savings, modernizing the international tax rules to better address today's global economy, or making procedural changes to improve compliance. The most important question is how should proposed changes be analyzed? The American Institute of Certified Public Accountants (AICPA) has issued suggestions for Federal tax policy. The suggestions analyze fundamental tax-reform proposals. AICPA determined that the proposal debate was missing an analytical framework to determine whether the proposals incorporated principles of "good" tax policy. AICPA created a framework to present the principles of a good tax system; it can be used both to analyze proposals and to modify them (if necessary), so that any changes will strengthen the tax system, rather than weaken it. It can also...
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...Evaluating the tax incentives for foreign investors policy Reporting to the Manufacturers league Executive Summary This report has been written in response to the government’s proposed tax incentive policy for foreign multi-national corporations to increase foreign direct investment within Australia. The report draws attention to the reasons behind the government’s proposal. These include the slow growth trends of the manufacturing industry, restoring the dropped level of foreign investment caused by the global financial crisis as well as a desire to increase levels of employment within the manufacturing sector. It continues by drawing attention to the resultant competitive issues that may be caused by such a move as well as issues that may arise due to inflation. It also draws attention to the tendency for foreign investment to result in less government intervention which may affect the industry in the longer term. It is recommended that: * The government increase the breadth of its proposal to all investors in the manufacturing industry so as to reduce competitive pressures on local manufacturers. * The government increases investment in training to provide a skilled workforce and reduce inflationary wage pressures. Introduction This Report shall be to determine whether or not tax incentives, with relation to foreign direct investment (FDI), are beneficial, holistically. First we must say a word about the nature of FDI. FDI can be defined as “....
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...Faculty Research Working Papers Series Industrial Policy for the Twenty-First Century Dani Rodrik November 2004 RWP04-047 The views expressed in the KSG Faculty Research Working Paper Series are those of the author(s) and do not necessarily reflect those of the John F. Kennedy School of Government or Harvard University. Copyright belongs to the author(s). Papers may be downloaded for personal use only. INDUSTRIAL POLICY FOR THE TWENTY-FIRST CENTURY* Dani Rodrik Harvard University John F. Kennedy School of Government 79 Kennedy Street Cambridge, MA 02138 (617) 495-9454 Fax: (617) 496-5747 E-mail: dani_rodrik@harvard.edu http://www.ksg.harvard.edu/rodrik/ This version September 2004 * This paper has been prepared for UNIDO. I am grateful to Francisco Sercovich for his guidance. I am also grateful to Robert Lawrence, Lant Pritchett, Andres Rodriguez-Clare, Andres Velasco, and especially Ricardo Hausmann and Roberto Unger for conversations over the last few years that led to the development of these ideas. None of these individuals should be held responsible for the views expressed here. I also thank Magali Junowicz for expert research assistance. I. Introduction Once upon a time, economists believed the developing world was full of market failures, and the only way in which poor countries could escape from their poverty traps was through forceful government interventions. Then there came a time when economists started to believe government failure was by far the...
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...2…………………………………………………………………………………………………………………………………….. 6 2.1 Explain how economic systems attempt to allocate resources effectively……………………. 6 2.2 Assess the impact of fiscal and monetary policy on business organizations and their activities………………………………………………………………………………………………………………………………….. 8 2.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organization…………………………………………………………………………………… 9 Task 3………………………………………………………………………………………………………………………………… 10 3.1 Explain how market structures determine the pricing and output decisions in various organizations………………………………………………………………………………………………………………… 10 3.2 Illustrate the way in which market forces shape organizational responses using a range of examples……………………………………………………………………………………………………………………… 11 3.3 Judge how business and cultural environments shape the behavior of Armani…………. 12 Task 4……………………………………………………………………………………………………………………………… 13 4.1 Discuss the importance of international trade, and globalization to Armani or other organizations………………………………………………………………………………………………………………… 13 4.2 Impact of global factors on Armani or other organizations……………………………………. 14 4.3 Evaluate the impact of policies of the...
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...Implementation Process Pre-marital sex has been a pressing public policy issue for decades. In the United States, numerous programs have been implemented to deal with the effects that pre-marital sex has had on the Nation’s economy and various other areas. In an essay prior to this paper, we looked at pre-marital sex from a public policy standpoint by judging the issue from five contexts: political, economic, social, historical, and ethical. In this essay, we will continue to examine pre-marital sex as a public policy issue, but we will be focusing on the policy implementation process; first by looking at what may cause it to be a problem, then by looking at the steps that the U.S. Government can take to find alternatives and implement policies, after we can look at policies that the U.S. Government has taken to fix the problem, and finally we will examine the most important criteria that is necessary to evaluate a public policy. Before I begin, I feel that it is important to draw attention to a portion of my first essay. Since we are looking at the implementation of policies, we must first come to a conclusion as to what the issue we are looking at affects most. Out of the five contexts examined in the first essay, I believe that the economic problems caused by pre-marital sex is the primary focus of the U.S Government; therefore, when looking for the root cause of the problem, we will be looking at it from the eyes of U.S policy makers and what they might see as pressing issues that...
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...system II. ECONOMICAL ANALYSIS Current strengths ▪ Powerful export sector ▪ Successful economic reforms Current challenges ▪ Low level of imports Future prospects ▪ Competitive tax policy ▪ Liberalized service sector ▪ Implementation of free trade agreements (FTA) Per capita income is very high Corruption free environment, an educated & determinate workforce. Business friendly economy in the world III. SOCIAL ANALYSIS Current strengths ▪ High wages ▪ Highly educated workforce ▪ Rapid urbanization Current challenges ▪ Low fertility rates Future prospects ▪ Low unemployment rate ▪ Rising awareness of human rights multiracial & Multi cultural country High spending nature Future risks ▪ Rising power of labor unions IV. TECHNOLOGICAL ANALYSIS Current strengths ▪ Robust telecom sector ▪ Presence of large global and domestic players Current challenges ▪ Scarce natural resources ▪ Rising R&D costs Future prospects ▪ Government policies promoting R&D ▪ Growing R&D centers Improving production technology (such as Batch freezers, Continue freezers, pressurizes, Homogenizers) Improved & better logistic V. LEGAL ANALYSIS Current strengths ▪ Regulatory incentives ▪ Favorable tax policies Current challenges ▪ Absence of juries...
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...2B: Government policies and laws include tax and benefit policies as well as legislation such as the relating to divorce and marriage. Sociologists have different views on the impact of these policies and laws on families. For example, feminists argue that social policies assume that the ideal family is a patriarchal nuclear family, and that government policies and laws therefore favour this sort of family. On the other hand, the New Right argue that the benefit system undermines traditional nuclear families by actively encouraging lone parents. Using item 2B and elsewhere, access sociological views of the impact of government policies and laws on family life. Social policy is where the government creates plans and actions to either benefit or detrimental the society. It has direct effects and indirect effects on the family. E.g. child benefits would have a direct effect on the family. Social policy, also called social execution when pertaining to executive government policy, primarily refers to guidelines, principles, legislation and activities that affect the living conditions conducive to human welfare. There are extreme policies, which have mostly been abandoned now which were the Chinas one child policy, Nazi Germany policy and abolishing the family act in Russia. Chinas one child policy was where all women in China were only allowed one child per family. This way they would get even more benefits and money. If the women had more than one baby, if the government...
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...taught 1 plus 1 really equals 2. This initiative is successful when all American high school students are able to graduate either academically prepared for college or skilled to begin a prosperous career. Public Policy Education would be categorized as a distributive public policy. Distributive are policies which involve incremental dispersal, unit by unit, to different segments of the population, and to individuals and institutions. For education, the distributive values are in forms of favors, spoils, benefits and patronage to some people or groups of individuals and organizations. In this case the government stipulates the mode and method sharing the national or the common wealth. As the most common form of policy, it uses general tax revenue to provide benefits to individuals or groups. Federal, state or local government allocates specific grant for the purpose of solving public and such actions are distributive policies. Some benefits are distributed without taking them away from other people, for example, free education. Education can fit as a distributive policy because as the most common form of policy, it uses general tax revenue to provide benefits to students, districts, counties, and states. As the case with education, taxes are placed of federal tax payers. The percentage of the...
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...Government Policies for Economic Growth and Productivity Michael Pintar ECN400 – Managerial Economics Colorado State University Global Campus Dr. John Speir November 11, 2012 Government Policies for Economic Growth and Productivity Michael Pintar ECN400 – Managerial Economics Colorado State University Global Campus Dr. John Speir November 11, 2012 Government Policies for Economic Growth and Productivity Government policy for promoting economic growth and productivity has tremendous bearing on our standards of living today and our future. Our policymakers’ ability to exercise proper fundamentals of economic growth determine the livelihood of our next generations (Mankiw, 2012). Whether policies encourage savings and investment, fund R&D, practice free trade, or promote education, the government has many tools and options for controlling our quality of life. Savings and Investment One method of boosting growth and raising standards of living is by government encouragement of savings and investment in an effort to raise capital. Unfortunately, the economic trade-off to achieve more capital requires reduced present day spending on goods and services in exchange for higher future consumption (Mankiw, 2012). To encourage savings, the government may consider a few principal actions: 1), raising current interest rates, thereby reducing demand for loanable funds and encouraging incentive to save, and / or 2), a tax reform intended for reduction of tax on interest...
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