{"title":"Taxes","authors":"E. Fama","doi":"10.2139/ssrn.3701844","DOIUrl":null,"url":null,"abstract":"This is a compendium of several related notes on taxes. Section I presents a simple general tax scheme. It is a tax on value added by labor and capital that does not favor one over the other. Section II, on business income taxes, contrasts the taxation of business income for closely held pass-through entities and open corporations. Section III discusses property taxes as annual taxes on housing services and so a form of income tax. Section IV turns to wealth taxes. Its main point is that like property taxes, wealth taxes imposed annually are income taxes that are large relative to annual income or consumption services from taxed assets. As a result, wealth taxes can have large negative effects on prices of taxed assets. The paper closes with (what I think is) a fun section contrasting governments and non-profits and the way they are financed. The puzzle posed is to explain why people donate to nonprofits but minimize tax payments to governments even though governments and nonprofits engage in many of the same activities.","PeriodicalId":119398,"journal":{"name":"Political Economy - Development: Fiscal & Monetary Policy eJournal","volume":"13 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2020-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"23","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Political Economy - Development: Fiscal & Monetary Policy eJournal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3701844","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 23

Abstract

This is a compendium of several related notes on taxes. Section I presents a simple general tax scheme. It is a tax on value added by labor and capital that does not favor one over the other. Section II, on business income taxes, contrasts the taxation of business income for closely held pass-through entities and open corporations. Section III discusses property taxes as annual taxes on housing services and so a form of income tax. Section IV turns to wealth taxes. Its main point is that like property taxes, wealth taxes imposed annually are income taxes that are large relative to annual income or consumption services from taxed assets. As a result, wealth taxes can have large negative effects on prices of taxed assets. The paper closes with (what I think is) a fun section contrasting governments and non-profits and the way they are financed. The puzzle posed is to explain why people donate to nonprofits but minimize tax payments to governments even though governments and nonprofits engage in many of the same activities.
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这是关于税收的几项相关说明的汇编。第一节介绍了一个简单的一般税收方案。它是一种对劳动和资本的增值征税,并不偏袒任何一方。第二节是关于企业所得税的,对比了对封闭式直通实体和开放公司的企业所得税的征税。第三节讨论财产税作为住房服务的年度税,因此是一种所得税。第四节转向财富税。它的主要观点是,与财产税一样,每年征收的财富税是相对于年收入或纳税资产的消费服务而言较大的所得税。因此,财富税可能对被征税资产的价格产生巨大的负面影响。这篇论文最后用(我认为)一个有趣的部分来对比政府和非营利组织,以及它们的融资方式。这个难题是要解释为什么人们向非营利组织捐款,却尽量减少向政府缴税,尽管政府和非营利组织从事许多相同的活动。
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