• Research Paper on:
    Assessing the Equity of Proposed Taxation Reforms

    Number of Pages: 12


    Summary of the research paper:

    This 12 page paper considers reforms to a taxation system to increase the tax paid by high earners by closing numerous loopholes and tax benefits and using the proceeds to reduce the income tax rate for low earners. The proposal is considered in the context of fairness and equity, looking at the way in which Adam Smith believed a taxation system should operate and considering the concept of horizontal equity and vertical equity. The bibliography cites 14 sources.

    Name of Research Paper File: TS14_TEtaxfair.rtf

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    Unformatted Sample Text from the Research Paper:
    state, which may include more than simply governance and the maintenance of the environment within which the financial rewards are gained, but the safety nets such as the welfare state  and the maintenance of the economy. The ways in which tax is paid, in both direct and indirect manners is often subject to debate, as there is a natural desire  by tax payers to minimise the amount of tax that they pay. When tax reforms are proposed they need to be assessed  to determine whether or not they are fair and appropriate. For example, if the shadow chancellor is suggesting changes which include cutting tax rates for low and middle income earners  while increases taxes on the higher earners, not by increasing the level of income tax, but by closing the loop holes that benefit the high tax earners, such as the  high level of tax relief granted on large pension posts, choosing to pay stamp duty in other countries where the burden is less, as well as the introduction of a  new levy on property based on property value in addition to the current property taxes. The question is whether or not these proposals will be seen as fair and equitable,  and why they may, or may not be, see as fair. When assessing the measures the main aim may be to  determine if these are good moves and are fair. Adam Smith, the 18th-century economist, argued in his work "Wealth of Nations" argued that there would be for criteria that would  define a good taxation system, these included equality, which referred to today is equity; economy of collection, also known as efficiency, transparency and predictability, which is today referred to assess 

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