Reaganomics, or Reaganism, were the neoliberal economic policies promoted by U.S. President Ronald Reagan during the 1980s. These policies are characterized as supply-side economics, trickle-down economics, or "voodoo economics" by opponents, while Reagan and his advocates preferred to call it free-market economics.
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures, and tax compliance refers to policy actions and individual behaviour aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs. The first known taxation took place in Ancient Egypt around 3000–2800 BC. Taxes consist of direct or indirect taxes and may be paid in money or as its labor equivalent.
A flat tax is a tax with a single rate on the taxable amount, after accounting for any deductions or exemptions from the tax base. It is not necessarily a fully proportional tax. Implementations are often progressive due to exemptions, or regressive in case of a maximum taxable amount. There are various tax systems that are labeled "flat tax" even though they are significantly different. The defining characteristic is the existence of only one tax rate other than zero, as opposed to multiple non-zero rates that vary depending on the amount subject to taxation.
Roger Joseph Ebert was an American film critic, film historian, journalist, screenwriter, and author. He was a film critic for the Chicago Sun-Times from 1967 until his death in 2013. In 1975, Ebert became the first film critic to win the Pulitzer Prize for Criticism. Neil Steinberg of the Chicago Sun-Times said Ebert "was without question the nation's most prominent and influential film critic," and Kenneth Turan of the Los Angeles Times called him "the best-known film critic in America."
Supply-side economics is a macroeconomic theory that postulates economic growth can be most effectively fostered by lowering taxes, decreasing regulation, and allowing free trade. According to supply-side economics, consumers will benefit from greater supplies of goods and services at lower prices, and employment will increase. Supply-side fiscal policies are designed to increase aggregate supply, as opposed to aggregate demand, thereby expanding output and employment while lowering prices. Such policies are of several general varieties:
- Investments in human capital, such as education, healthcare, and encouraging the transfer of technologies and business processes, to improve productivity. Encouraging globalized free trade via containerization is a major recent example.
- Tax reduction, to provide incentives to work, invest and take risks. Lowering income tax rates and eliminating or lowering tariffs are examples of such policies.
- Investments in new capital equipment and research and development (R&D), to further improve productivity. Allowing businesses to depreciate capital equipment more rapidly gives them an immediate financial incentive to invest in such equipment.
- Reduction in government regulations, to encourage business formation and expansion.
John Frank Stossel is an American libertarian television presenter, author, consumer journalist, and pundit. He is known for his career as a host on ABC News, Fox Business Network, and Reason TV.
A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total they owe the state. It may also be a credit granted in recognition of taxes already paid or a form of state "discount" applied in certain cases. Another way to think of a tax credit is as a rebate.
An Inconvenient Truth is a 2006 American documentary film directed by Davis Guggenheim about former United States Vice President Al Gore's campaign to educate people about global warming. The film features a slide show that, by Gore's own estimate, he has presented over 1,000 times to audiences worldwide.
A tax incentive is an aspect of a government's taxation policy designed to incentivize or encourage a particular economic activity by reducing tax payments.
Film finance is an aspect of film production that occurs during the development stage prior to pre-production, and is concerned with determining the potential value of a proposed film.
America: Freedom to Fascism is a 2006 American film by filmmaker and activist Aaron Russo, covering a variety of subjects that Russo contends are detrimental to Americans. Topics include the Internal Revenue Service (IRS), the income tax, Federal Reserve System, national ID cards, human-implanted RFID tags, Diebold electronic voting machines, globalization, Big Brother, taser weapons abuse, and the use of terrorism by the government as a means to diminish the citizens' rights.
Tax policy refers to the guidelines and principles established by a government for the imposition and collection of taxes. It encompasses both microeconomic and macroeconomic aspects, with the former focusing on issues of fairness and efficiency in tax collection, and the latter focusing on the overall quantity of taxes to be collected and its impact on economic activity. The tax framework of a country is considered a crucial instrument for influencing the country's economy.
Optimal tax theory or the theory of optimal taxation is the study of designing and implementing a tax that maximises a social welfare function subject to economic constraints. The social welfare function used is typically a function of individuals' utilities, most commonly some form of utilitarian function, so the tax system is chosen to maximise the aggregate of individual utilities. Tax revenue is required to fund the provision of public goods and other government services, as well as for redistribution from rich to poor individuals. However, most taxes distort individual behavior, because the activity that is taxed becomes relatively less desirable; for instance, taxes on labour income reduce the incentive to work. The optimization problem involves minimizing the distortions caused by taxation, while achieving desired levels of redistribution and revenue. Some taxes are thought to be less distorting, such as lump-sum taxes and Pigouvian taxes, where the market consumption of a good is inefficient, and a tax brings consumption closer to the efficient level.
Corporate tax is imposed in the United States at the federal, most state, and some local levels on the income of entities treated for tax purposes as corporations. Since January 1, 2018, the nominal federal corporate tax rate in the United States of America is a flat 21% following the passage of the Tax Cuts and Jobs Act of 2017. State and local taxes and rules vary by jurisdiction, though many are based on federal concepts and definitions. Taxable income may differ from book income both as to timing of income and tax deductions and as to what is taxable. The corporate Alternative Minimum Tax was also eliminated by the 2017 reform, but some states have alternative taxes. Like individuals, corporations must file tax returns every year. They must make quarterly estimated tax payments. Groups of corporations controlled by the same owners may file a consolidated return.
Life Is My Movie Entertainment is a documentary studio founded on January 1, 2011 by Vincent Vittorio based in Los Angeles and Atlanta. The company specializes in developing, producing, acquiring, and distributing non-fiction films.
In economics, the Laffer curve illustrates a theoretical relationship between rates of taxation and the resulting levels of the government's tax revenue. The Laffer curve assumes that no tax revenue is raised at the extreme tax rates of 0% and 100%, meaning that there is a tax rate between 0% and 100% that maximizes government tax revenue.
Stossel was a weekly American talk show, hosted by John Stossel, highlighting current consumer issues with a libertarian viewpoint. The television program debuted on December 10, 2009, on the Fox Business Network and aired on Fridays. It originally aired at 8:00 pm EST, but was moved to 9:00 pm EST. In 2013, Fox News Channel began to replay the show which aired occasionally on the weekends.
Movie production incentives are tax benefits offered on a state-by-state basis throughout the United States to encourage in-state film production. Since the 1990s, states have offered increasingly competitive incentives to lure productions away from other states. The structure, type, and size of the incentives vary from state to state. Many include tax credits and exemptions, and other incentive packages include cash grants, fee-free locations, or other perks.
Inequality for All is a 2013 documentary film directed by Jacob Kornbluth and narrated by American economist, author and professor Robert Reich. Based on Reich's 2010 book Aftershock: The Next Economy and America's Future, the film examines widening income inequality in the United States. Reich publicly argued about the issue for decades, and producing a film of his viewpoints was a "final frontier" for him. In addition to being a social issue documentary, Inequality for All is also partially a biopic regarding Reich's early life and his time as Secretary of Labor under Bill Clinton's presidency. Warren Buffett and Nick Hanauer, two entrepreneurs and investors in the top 1%, are interviewed in the film, supporting Reich's belief in an economy that benefits all citizens, including those of the middle and lower classes.
Taxation in Brazil is complex, with over sixty forms of tax. Historically, tax rates were low and tax evasion and avoidance were widespread. The 1988 Constitution called for an enhanced role of the State in society, requiring increased tax revenue. In 1960, and again between 1998 and 2004, efforts were made to make the collection system more efficient. Tax revenue gradually increased from 13.8% of GDP in 1947 to 37.4% in 2005. Tax revenue has become quite high by international standards, but without realising commensurate social benefit. More than half the total tax is in the regressive form of taxes on consumption.
