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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. A failure to pay, along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent. The first known taxation took place in Ancient Egypt around 3000–2800 BC.
Spread betting is any of various types of wagering on the outcome of an event where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome, such as fixed-odds betting or parimutuel betting.
Within most systems and at most levels in the game of Go, a handicap is given to offset the strength difference between players of different ranks.
Distributive justice concerns the socially just allocation of resources. Often contrasted with just process, which is concerned with the administration of law, distributive justice concentrates on outcomes. This subject has been given considerable attention in philosophy and the social sciences.
The list price, also known as the manufacturer's suggested retail price (MSRP), or the recommended retail price (RRP), or the suggested retail price (SRP) of a product is the price at which the manufacturer recommends that the retailer sell the product. The intention was to help standardize prices among locations. While some shops/stores always sell at, or below, the suggested retail price, others do so only when items are on sale or closeout/clearance.
Equality of outcome, equality of condition, or equality of results is a political concept which is central to some political ideologies and is used regularly in political discourse, often in contrast to the term equality of opportunity. It describes a state in which people have approximately the same material wealth and income, or in which the general economic conditions of their lives are alike.
Equal opportunity is a state of fairness in which individuals are treated similarly, unhampered by artificial barriers or prejudices or preferences, except when particular distinctions can be explicitly justified. The intent is that the important jobs in an organization should go to the people who are most qualified – persons most likely to perform ably in a given task – and not go to persons for reasons deemed arbitrary or irrelevant, such as circumstances of birth, upbringing, having well-connected relatives or friends, religion, sex, ethnicity, race, caste, or involuntary personal attributes such as disability, age, gender identity, or sexual orientation.
FairTax was a single rate tax proposal in 2005, 2008 and 2009 in the United States that includes complete dismantling of the Internal Revenue Service. The proposal would eliminate all federal income taxes, payroll taxes, gift taxes, and estate taxes, replacing them with a single consumption tax on retail sales.
Game balance is part of game design can be described as a mathematical-algorithmic model of a game’s numbers, game mechanics and relations between those. Therefore, game balancing consists in adjusting those to create the intended experiences, usually positive ones. Players’ perception and experience are usually the objective of game balancing.
Equity or Economic equality is the concept or idea of fairness in economics, particularly in regard to taxation or welfare economics. More specifically, it may refer to equal life chances regardless of identity, to provide all citizens with a basic and equal minimum of income, goods, and services or to increase funds and commitment for redistribution.
In economics, tax incidence or tax burden is the effect of a particular tax on the distribution of economic welfare. Economists distinguish between the entities who ultimately bear the tax burden and those on whom tax is initially imposed. The tax burden measures the true economic weight of the tax, measured by the difference between real incomes or utilities before and after imposing the tax, taking into account how the tax leads prices to change. If a 10% tax is imposed on sellers of butter, for example, but the market price rises 8% as a result, most of the burden is on buyers, not sellers. The concept of tax incidence was initially brought to economists' attention by the French Physiocrats, in particular François Quesnay, who argued that the incidence of all taxation falls ultimately on landowners and is at the expense of land rent. Tax incidence is said to "fall" upon the group that ultimately bears the burden of, or ultimately suffers a loss from, the tax. The key concept of tax incidence is that the tax incidence or tax burden does not depend on where the revenue is collected, but on the price elasticity of demand and price elasticity of supply. As a general policy matter, the tax incidence should not violate the principles of a desirable tax system, especially fairness and transparency.
In economics, the excess burden of taxation, also known as the deadweight cost or deadweight loss of taxation, is one of the economic losses that society suffers as the result of taxes or subsidies. Economic theory posits that distortions change the amount and type of economic behavior from that which would occur in a free market without the tax. Excess burdens can be measured using the average cost of funds or the marginal cost of funds (MCF). Excess burdens were first discussed by Adam Smith.
The ease of doing business index is an index created jointly by Simeon Djankov and Gerhard Pohl, two leading economists at the World Bank Group. The academic research for the report was done jointly with professors Oliver Hart and Andrei Shleifer. Higher rankings indicate better, usually simpler, regulations for businesses and stronger protections of property rights. Empirical research funded by the World Bank to justify their work show that the economic growth impact of improving these regulations is strong. An example of such empirical research is a paper on business regulation and poverty, published in Economics Letters.
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.
Act 60, known as "The Equal Educational Opportunity Act", was a Vermont law enacted in June 1997 by the Vermont legislature intended to achieve a fair balance of educational spending across school districts, independent of the degree of prosperity within each district. The law was in response to a Vermont Supreme Court decision in the Brigham vs. State of Vermont case, wherein the court ruled that Vermont’s then existing educational funding system was unconstitutional, because it allowed students in towns with higher total property values to receive a higher level of education funding per pupil than students in towns with lower property values. Act 60 was followed by Acts 68 and 130, which addressed some imbalances caused by Act 60.
United Kingdom agency worker law refers to the law which regulates people's work through employment agencies in the United Kingdom. Though statistics are disputed, there are currently between half a million and one and a half million agency workers in the UK, and probably over 17,000 agencies. As a result of judge made law and absence of statutory protection, agency workers have more flexible pay and working conditions than permanent staff covered under the Employment Rights Act 1996.
The Alliance for Main Street Fairness is an advocacy group based in the United States of America dedicated to ending what it sees as unfair tax advantages for online-only retailers with respect to the collection of sales taxes. The group supports the Marketplace Fairness Act. Members include retailers such as Wal-Mart, Target, Best Buy, Home Depot, Sears, and thousands of small retailers.
The Marketplace Fairness Act is proposed legislation pending in the United States Congress that would enable state governments to collect sales taxes and use taxes from remote retailers with no physical presence in their state. Identical versions were introduced into both the United States House of Representatives and the United States Senate during the 113th United States Congress. During the previous, 112th Congress, a bill was considered but expired without enactment.
Technoliberalism is a political philosophy founded on ideas of liberty, individuality, responsibility, decentralization, and self-awareness. It also highlights an idea that technology should be available to everyone with minimal controls. Its core beliefs fit under five main interests that include Construction of the Government, Economics, Civil Liberties, Education and Science, and Environment. Technoliberals support such ideas as balance of powers in the government, decentralization, affordable education, the protection of our planet, Fine Arts, and the freedom of speech and communication technologies.
Cavendish Square Holding BV v Talal El Makdessi[2015] UKSC 67, together with its companion case ParkingEye Ltd v Beavis, are English contract law cases concerning the validity of penalty clauses and the application of the Unfair Terms in Consumer Contracts Directive.
References
- ↑ Arneson, Richard (February 27, 2015). Zalta, Edward N. (ed.). Equality of Opportunity. Metaphysics Research Lab, Stanford University – via Stanford Encyclopedia of Philosophy.
- ↑ "Sainsbury's chief calls for action to tax online rivals". the Guardian. June 12, 2013.
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