Group items tagged

The British government promised not to raise any income tax, believing that the British labor would "rebuilt the economy, renew the society, and restore trusts in politics." This topic is relevant to this week's topic because delaying the tax increase is a type of deregulation. The consumer are likely to buy consumer goods before a leap in the tax rates occur and the extension of income tax delay would probably contribute to a small increase in AD since the disposasble income remains the same. The expectation of increase in tax rate would induce consumer to buy more product before the actual rise.

This article is talking about the UK's labour party wanting to rebuild the economy because the conservative party does not think that they deserve a fourth term. This article links to this week's subject because the labour party promised to keep 'business tax as low as possible' to give maximum protection to frontline public services.

This article talks about Paraguay's tax policies, as it is one of the few countries in the world with no income tax. In addition, it looks like that won't change anytime soon. Lugo claims that such tax would help lowering the crime rate in such dangerous country; however, it seems that senators do not want to pay such tax.

This article is about the need for higher tax rates to cut government deficit. The tax hike needed would be the equivalent of raising the basic rate of income tax from 20p to 26p on the pound. Tax rises do not all necessarily need to come in the form of income tax, but this is the amount needed.

With growing health concerns like obesity and diabetes, the US government is considering placing an additional tax on sugary drinks. The profits from the tax could go to fund health care initiatives. Soda is fairly price elastic - if the price were to change drastically, the demand for it would most likely decrease. So, either people will immediately curb their appetite, or the government will take the additional profits from the tax to educate the population about the adverse effects of sugar overdose.

This article is about imposing a tax for the sole purpose of increasing revenue to put towards health care. The article talks about putting a percentage tax on all goods. In total, the burden of the tax should be spread out as there is a range of elasticities of goods being taxed.

In order to create new jobs, the senate of Arizona has just backed a bill that will cut business tax and give tax breaks to families in order to create new jobs. People in support of the package said that it would diversify the state economy and provide high-paying jobs by attracting business expansions and relocations.

Mexico is heavily dependent on oil funds. However, amidst the decline of the oil revenue, lawmakers have proposed an increase in the nations VAT to offset losses. Will the raise in taxes help Mexico's economy? Or is it a tax that is unfair to the nation's population?

This article explains what indirect taxes are and what they do.

This article is about Washington's plans to increase pollution taxes, which would supposedly increase state revenue by 225 million. This tax would have the double benefit of relieving the recession-hobbled state budget and encouraging environmentally friendly business practices.

This is article is about how Canadian sawmillers will not have to pay as many taxes now due to an increase in lumber prices. The sawmillers had to pay a sliding rate export tax inder a 2006 US-Canadian agreement. The rate of this business tax is now reduces 5%.

The demand for plastics has increased and is expected to grow even stronger due to the eradication of taxes by the government, which has logically lowered prices. Elasticity is here referred to as demand for plastic increases due to the decrease in prices. However, plastics industry fears a decrease in demand if taxes are re-established; referring to elasticity as well.

This article describes how, in the midst of the economic downturn, hard-hit Eastern European countries are increasing taxes on cigarette and alcohol - goods with relatively inelastic demand curves - in an attempt to raise government revenue. A problem that many of these countries face is that a large proportion of alcohol and cigarettes are produced and sold without license/illegally, making it difficult for governments to collect revenue.

This article presents one of the possible outcomes of implementing a business tax, which is great dislike and confrontations from businesses towards the government. Furthermore, the possibility of people losing jobs is still present, and threatens the balance of the economy in general.

This article exemlpifies the positive impacts with the utilization of a higher tax revenue.

The french government has implemented a tax on carbon, aiming to "solely" reduce the use of fossil fuels. Sarkozy explains that this benevolent and kind action is for the greater good, to "save the human race."

This article explains the concept of PED and how that affects tax increases

This article relates to the topic of income tax because it is talking about the different parties in the English government will change the income tax to please the public.

This article discuss on the argument of whether or not to impose higher tax rates on the upper class of the economy.

Many economists and policymakers are considering the idea of a tax credit to American companies that create new jobs. This is intended to encourage companies to begin hiring again by making it cheaper to get new workers. Lawmakers hope this will help reduce unemployment.

The government of Switzerland is planning to impose tax on nuclear energy to fund other renewable energy sources. Nuclear powerplants have been give a longer "life-span" from 40 years to 55 years. Supporters for this taxation say that Extra profit created from the nuclear energy could go toward renewable energies such as solar, geothermal or wind power. However, the nuclear safety issues and alternative taxation are still in questions.