On the equitability of progressive taxation

Article Abstract:

A study investigated the equity properties of progressive income taxation within the context of the doctrine of ability to pay or the principal of equal sacrifice, which, it is argued, is a useful criterion for fairness. It will be shown that a subclass of progressive taxes fail to satisfy the principle of equal sacrifice. It is therefore contended that the principle of progressivity ought to be integrated with the principle of sacrifice to facilitate the development of a theory of equitable income taxation.

Personal Income Taxes, Personal Income Tax Rates, Income tax, Personal income tax, Tax assessment, Tax rates, Progressive taxation

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An exact discount factor restriction for period-three cycles in dynamic optimization models

Article Abstract:

The exact range of discounting, or discount factor restriction, required to create period-three cycles in a standard aggregative dynamic optimization model is examined. A universal constant of M exists under conditions that M is greater than the discount factor if the dynamic optimization framework exhibits a period-three cycle. In cases where the discount factor is smaller than M, a utility function and a transition possibility set may be developed so that an optimization model shows a period-three cycle.

Methods, Stochastic analysis, Mathematical models, Discount rates

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On time inconsistency: a technical issue in Stackelberg differential games

Article Abstract:

Stackelberg differential games can be efficiently used to study optimal government policies and dynamic interaction between government and private agents. The model employed considers an economy populated with a continuum of identical private agents that are consumers-cum-producers. The single goods produced are either consumed or invested as capital for later production.

Tax Law, Differential games, Taxation

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