Question

Which of these two approaches to tax equity do you find fairer: the ability-to-pay principle or the benefit-received principle? Why?

Answer 1

1) protect property rights

2) maintain competition  

3) protect consumers

4) protect savers and investors

5) protect workers

6) address externalities  

7) provide public/common good

8) ensure economic security

Answer 2

The ability-to-pay taxes approach seems fairer and is simpler to implement and implement successfully. This idea serves as the foundation for the progressive tax, which has higher tax rates for those with greater incomes.

What is the ability to pay tax?

Taxation is based on the idea of the ability to pay. The reason why those with higher incomes pay more in taxes is that they have the means to do so, not because they consume more government products and services. This idea serves as the foundation for the progressive tax, which has higher tax rates for those with greater incomes.

Thus, According to the ability-to-pay principle of taxation, tax payments should be proportional to income to lessen the financial burden that taxes may place on low-income households.

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