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The concept of justice
The concept of justice
Theory of justice summary
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Stakeholder Analysis
Naturally there are several stakeholders involved in this debate. This section of this study will seek to identify the various stakeholders involved and to evaluate their stakes. The two biggest stakeholders in this debate are the government and taxpayers. An analysis of the government’s right to claim a stake in this debate arises from their need for revenue from its citizens. As previously mentioned the government needs these revenues to support itself, finance its debt, support those in need and to pay for the various social projects it creates for the citizens benefit or pleasure. The government in respects to taxation have an extremely high level of legitimacy, after all those who don’t obey face certain punishment. Which leads to the fact that the government also has an extremely high level of power. The government is the law of the land and everything within its power must either obey or face certain consequences. Thus, within limits they have the power to produce any result they want with relative ease regarding outside forces. The caveat is that often the political processes of Congress tend to put a drag on the results the government can produce. Regarding urgency, the government has a moderate to low level. Indeed, they do need the revenues to function, but given the immense number of those under its thumb, the need is often slow on an individualistic basis.
Taxpayers are another larger stakeholder in this debate. Their claim arises from the fact that the government is taking their earnings. This often raises debates about the ethics of requiring taxes (essentially taking from those who worked or earned it), often wealth redistribution and whether or not it is right for the government to decide wha...
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...attempting to enact a plan that was more “even” than a flat tax would be targeted. However, as discussed already this is a false perception as a flat tax, proportionately affects no one equally. A taxpayer’s preference would depend on their income levels as discussed. Therefore, lower-income taxpayers would fundamentally prefer a progressive tax system because it places far less burden on them, the middle class would slightly side with a progressive tax because a flat tax would mean more tax because it taxes solely wages which are this class’s main source of income. Business would much prefer a flat tax because only wages are taxed, dividends, capital gains, savings, and investments are left untouched. Therefore, most of society would agree with a progressive system, according to both Universalism and Rawls’ distributive just theories would agree with this statement.
Our current system of taxation is a varied rate percentage based on different income brackets. Many say that it violates our constitutional rights through unequal taxation. Multiple deductions, loopholes, special rates, and a complex system of regulations all characterize our Federal Income Tax System, prompting many to question why it is still being used (Peters, 2013). The current system although bringing in over $3 trillion, taxes income multiple times, and includes the taxing of estate, labor, savings, and investments (National Priorities Project, 2013). The system itself is complex with over 20,000 pages of regulations, requiring a massive filing system, which is set up and maintained by an even larger IRS, requiring over $225 billion in compliance costs (Hall, 2001). One can be hard pressed to find an advantage in the current system, other than the fact that it provides the government with an enormous amount of funds, and it has...
..., while at the same time doing their best to heighten economic class warfare. The FairTax Act is not addressing anything other than tax collection and pointing out that the worker is already paying the brunt of the tax bill, the FairTax just lets the worker know exactly how he is taxed and by how much. More importantly the worker can choose how much tax to pay, giving them more power over government, a power balance that has been in favor of government since the 16th Amendment was adopted. The very advocates against this plan want government to maintain this overwhelming power over the citizens; it allows the politician to hand out favors and punishment in the form of tax cuts and increases. These same advocates preach equality while dividing the classes; it is this division of voting blocks that politicians can play to that will be eliminated with the FairTax Act.
The tax policy in the United States is very confusing. When the tax policy was originally written in 1913 it was four hundred pages. Now, over the past ninety one years, that tax policy has evolved to over 72,000 pages. Since the tax code has become so lengthy and nearly impossible to understand, the topic of tax reform has been in the minds of many. Although, most barely think about tax reform until tax season. It is a controversial subject due to the impact a change in tax code would have on the American people. The two most popular and widely known stakeholders in this debate are the two major political parties in the United States, the Democrats and the Republicans. The two parties share absolutely no common ground on the subject of tax reform, other than thinking the other parties solution is wrong. The Democrats, in general, want to raise taxes on the wealthy, while Republicans, generally, want to cut taxes for everyone (Democratic Party) (GOP). Unfortunately, with the United States economy currently doing so poorly, the parties can no longer afford to remain at a standstill, some sort of compromise is going to have to be made. The implementation of a flat tax, and discarding the current tax system would be a compromise that both parties can agree on and will simplify the tax code, overall benefiting all Americans.
II. Implementing a flat tax without significantly increasing the deficit is impossible without shifting the burden from the rich to the middle-class, instead our current progressive tax policy needs to be changed so that it is simpler and does not allow corporations to abuse the tax loopholes.
Introduction: In the year 1862 during the civil war congress implemented the first income tax in America. It was 3% per year. However, it was not until 1913 when the 16th Amendment to the Constitution was passed, which granted the government the ability to impose a tax on individuals’ income. Since then it has been an issue to determine how much people should be taxed. Tax rates in America change drastically; for example, in 1963 a person in the highest tax bracket would give 90.8% of their income to the government. In contrast, that same person would only pay 28.0% in 1988. The tax rate for income tax is an issue because for every dime that someone pays in taxes is one dime that they are not able to spend themselves. Additionally, people
One person may see that the increase taxation on the poor and the decrease taxes on the wealthy is not an issue because the wealthy pay a lot of taxes already. However, many people don’t realize the fact that, yes, the wealthy are paying a lot of taxes because they make more money, but they can afford to pay more. Recently, in a CNN article, more than forty millionaires want their taxes to increase, which proves the fact that the wealthy have plenty of money to give back to the community. In addition, their just going to keep getting wealthier and wealthier by the
This paper will take a close look at the concepts of the "flat tax," and look at the possible benefits and potential failings. Although there is a basic format to the flat tax, there are multiple flat tax proposals that have been offered by conservatives. Along with critiquing the basic format of the flat tax, this paper will compare an...
Taxation has always been a major controversy. Just like any major corporation, the government is constantly looking to raise revenue. The easiest and fairest way to do this is by taxing the people. However, how the people will be taxed is always an issue.
The use of taxes is one of the government's favorite ways to make its presence known in the economy. While this method seems blatantly obvious, many of the ways the government uses the money collected by taxation is not. Some of the money it takes is used to fund other programs designed to "protect" consumers and to "create" jobs. Be...
The government use of taxes plays a crucial role in today’s economy as well as personal finances, it has and will continue to leave its mark on the world we live in.
Stakeholder can be defined as “any group or individual who can affect or is affected by the achievement of the organization’s objectives”. This theory focuses on wider aspect rather than only focusing on just the shareholder. Stakeholder theory is a fundamental theory about how business works at its best and how it could work. It is concerning on the value creation and trade on how to manage a business effectively.
The purpose of this paper is to illustrate the layout of taxation. I will differentiate the types of taxes and the roles that they serve currently. Subsequently, I will explain what equity, efficiency, effectiveness and transparency (EEET) are and show how they apply to taxation as a whole. Lastly, I will conclude how the EEET applies to the four tax types.
A stake holder, in general is defined as an individual or organization likely affected by the performance of an organization. In “The stakeholder theory of the corporation: Concepts, evidence, and implications” by Thomas Donaldson , he quotes Stanford research institution and calls stake holders “those groups without whose support the organization would cease to exist.”
Taxation is a compulsory levy imposed on the income, value of goods and services of individuals, partners and companies by the government. It is can be said to be an approach of imposing tax on the citizen. This imposition of tax, is expected to yield income which should be utilized in the provision of both basic and substantial infrastructural amenities, both social and security, as well as creates conditions for the economic well-being of the society at large.
.... Much wider and much deeper dialogue is needed between those with a stake in economic prosperity from all three sectors about how to mitigate these adverse effects without undue harm to the economic benefits produced by the market. Exploration of alternative solutions, experimentation and, ultimately, adoption of new approaches and policies are required. Civil society finances its expanded participation in social development and in cross-sector working partnerships through self-generated revenues from earned income, user fees and philanthropic contributions, along with the revenue sharing with government and new contributions from the private sector. The private sector contributes its additional funds, as well as human resources and expertise, by participating in the cross-sector collaborative projects that are co-financed by the public sector and by civil society.