Show how under an income tax the present value of the amount of tax paid over a
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Show how under an income tax the present value of the amount of tax paid over a person’s lifetime will vary with the difference in saving for two individuals who begin the life cycle at age 18 and have equal economic capacity. Why is the tax paid independent of the timing of income under a consumption tax?
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Income Tax Under an income tax system individuals are taxed based on their earnings which include wages salaries interest dividends and other sources ...View the full answer
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Related Book For
Public Finance A Contemporary Application Of Theory To Policy
ISBN: 9780538754460
10th Edition
Authors: David N Hyman
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