Public Finance

  1. The Structure of the Tax System
    1. Taxes on Income and Earnings
      1. Personal Income Tax
        1. Defining the Tax Base
          1. Haig-Simons Comprehensive Income
            1. Practical Departures from Comprehensive Income
            2. Taxable Units
              1. Individual vs. Family Taxation
                1. Marriage Penalties and Bonuses
                2. Tax Rate Structures
                  1. Proportional (Flat) Tax
                    1. Progressive Tax
                      1. Regressive Tax
                        1. Marginal vs. Average Tax Rates
                        2. Exemptions, Deductions, and Credits
                          1. Personal Exemptions
                            1. Standard Deduction
                              1. Itemized Deductions
                                1. Tax Credits
                                  1. Tax Expenditures
                                  2. The Alternative Minimum Tax
                                    1. Effects on Labor Supply
                                      1. Labor-Leisure Tradeoff
                                        1. Income and Substitution Effects
                                          1. Empirical Evidence
                                          2. Effects on Saving and Investment
                                          3. Payroll Taxes
                                            1. Structure and Coverage
                                              1. Funding Social Security and Medicare
                                                1. Incidence of Payroll Taxes
                                                  1. Effects on Employment and Wages
                                                    1. International Comparisons
                                                  2. Taxes on Consumption
                                                    1. Sales Taxes
                                                      1. General Sales Taxes
                                                        1. State and Local Variations
                                                          1. Exemptions and Exclusions
                                                            1. Pyramiding Issues
                                                            2. Value-Added Tax
                                                              1. Mechanism of VAT
                                                                1. Credit-Invoice Method
                                                                  1. VAT vs. Sales Tax
                                                                    1. International Experience
                                                                    2. Excise Taxes
                                                                      1. Specific vs. Ad Valorem Excises
                                                                        1. Targeted Goods
                                                                          1. Tobacco Taxes
                                                                            1. Alcohol Taxes
                                                                              1. Fuel Taxes
                                                                                1. Carbon Taxes
                                                                                2. Sin Taxes and Corrective Taxation
                                                                                3. Efficiency and Equity of Consumption Taxes
                                                                                  1. Regressivity Concerns
                                                                                    1. Administrative Issues
                                                                                      1. Border Tax Adjustments
                                                                                    2. Taxes on Wealth and Property
                                                                                      1. Property Taxes
                                                                                        1. Real Property Taxation
                                                                                          1. Personal Property Taxation
                                                                                            1. Assessment Methods
                                                                                              1. Market Value Assessment
                                                                                                1. Assessment Ratios
                                                                                                2. Incidence and Economic Effects
                                                                                                  1. Capitalization Effects
                                                                                                  2. Estate and Inheritance Taxes
                                                                                                    1. Structure and Exemptions
                                                                                                      1. Economic Impact
                                                                                                        1. Avoidance and Planning
                                                                                                        2. Wealth Taxes
                                                                                                          1. Design and Implementation Challenges
                                                                                                            1. International Comparisons
                                                                                                              1. Net Worth Taxation
                                                                                                            2. Corporate Income Taxation
                                                                                                              1. Rationale for Corporate Taxation
                                                                                                                1. Entity vs. Pass-Through Taxation
                                                                                                                  1. Double Taxation Issues
                                                                                                                  2. Structure of the Corporate Income Tax
                                                                                                                    1. Tax Base Definition
                                                                                                                      1. Depreciation and Cost Recovery
                                                                                                                        1. Investment Incentives
                                                                                                                          1. Loss Carryovers
                                                                                                                          2. Incidence and Economic Effects
                                                                                                                            1. Effects on Investment
                                                                                                                              1. Effects on Corporate Finance
                                                                                                                                1. Burden Distribution
                                                                                                                                2. Integration with Personal Income Tax
                                                                                                                                  1. Classical System
                                                                                                                                    1. Imputation Systems
                                                                                                                                      1. Dividend Deduction Systems
                                                                                                                                      2. International Corporate Taxation
                                                                                                                                        1. Residence vs. Source Taxation
                                                                                                                                          1. Transfer Pricing
                                                                                                                                            1. Tax Havens and Base Erosion
                                                                                                                                              1. Controlled Foreign Corporation Rules
                                                                                                                                                1. International Tax Coordination

                                                                                                                                            Previous

                                                                                                                                            4. Principles of Taxation

                                                                                                                                            Go to top

                                                                                                                                            Next

                                                                                                                                            6. Fiscal Policy and Macroeconomic Stabilization