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When it comes to taxes, do the rich pay their fair share? The answer, of course, is subjective since "fair" is not an absolute concept and tax data, depending how it's sliced, can tell different stories. Those who say the rich pay their fair share point to the fact that the top 1% of taxpayers end up paying almost as much in federal income tax (and some years even more) as the bottom 95% combined. Still, it's unlikely that even the most anti-tax, pro-wealth advocates would find this particularly fair: A very small number of millionaires end up owing no federal income tax at all.

The suffering will be widespread in Michigan as lawmakers dig the state out of next year's projected $1.4 billion budget hole.Snyder's plan eliminates the unpopular Michigan Business Tax in favor of a much smaller corporate income tax. To make up for the lost revenue, many tax exemptions and credits, both for business and individuals, would be erased. The most controversial of those eliminate an extra credit for the working poor and reduce pension exemptions.In total, income tax revenue would rise in 2013 nearly as much as business tax collections decline.

In a new study of federal fiscal policies between 1977 and 1992 entitled "Inequality and the Federal Budget Deficit," the nonpartisan group concludes that the tax cuts enacted in that period enriched the wealthy, increased the tax burden of the middle class, and grossly inflated the national debt. The study concludes that the tax cuts have resulted in lower overall federal tax burdens for only the very poorest and very richest of U.S. taxpayers. Most other families are paying a greater percentage of their family income to the government than they would be if the tax code had remained unchanged since 1977.

China is planning to raise income tax on the very rich. By changing the minimum income at which the bracket begins from $450 to $315 a month. Even though a nation that has a great disparity between rich and poor the the tax system will have not as large an effect as say in america. This is because only a small amount of chinese file income tax forms at all so the overall lessening of government income willl not take such a direct hit.

"The chain of logic for supply-side policies to work requires the following. Lower tax rates on savings (or on those who save more) leads to higher saving rates. Higher saving leads to more economic investments and greater capital accumulation. Finally, more capital leads to greater economic growth. At each of these steps, however, there is reason to doubt the theory-there are other possible outcomes and conflicting theories. Rep. Ryan's plan is supply-side economics on steroids. His budget for fiscal year 2012 beginning in October would curtail spending, end Medicare as we know it, and reduce taxes on the wealthy while keeping overall tax revenue constant. This can only mean taxes will go up on the "nonwealthy." Ryan boasts that all this pain will be for good. And he is backed by the Heritage Foundation, which predicts-among other fantastical claims-that his budget will add an estimated additional 1 million jobs in 2012. Those 1 million jobs, however, are fictional."

North Carolina is seeking to aid citizens so that tax returns are easier for them and income tax is not a "guessing game". Making tax returns simpler for citizens in North Carolina will aid the government by having to send out less and smaller returns because the citizens will be able to predict the amount of income tax that they have to pay more accurately.

This article is interesting since it discusses the problem with deciding on who pays higher taxes. The tax described here is a progressive tax but it is hard to decide at which income to increase the income tax.

Lower income earners will see a small increase in their pay packets from July 1 when the government rushes forward $1.37 billion in tax breaks.The tax cut was to be delivered when people filed their returns at the end of the financial year, but the government is changing the timing in a gesture to cost-of-living pressures and to encourage people into work and to work more.

This article is about the process that the government is going through to ban State income taxes. It is apparent that most everyone does not want to be taxed on their income but rather on their expenditures.

This article talks about how foreign markets are threatened by the possible creation of a transaction tax for international trade among EU-countries and non-EU-countries, what would incentive the local commerce in europe and favor a protectionist policy in all Europe.

Kemp, a former quarterback for the Buffalo Bills, represented western New York for nine terms in Congress, leaving the House for an unsuccessful presidential bid in 1988. Eight years later, after serving a term as President George H.W. Bush's housing secretary, he made it onto the GOP's national ticket as Bob Dole's running mate. With that loss, the Republican no longer ran for office, but he stayed in politics. In speaking engagements and a syndicated column, he continued to advocate for the tax reform and supply-side policies -- the idea that the more taxes are cut, the more the economy will grow -- that he pioneered. He also formed a Washington strategic consulting firm, Kemp Partners, after leaving office.

The article discusses the Chinese state's initiative to increase the minimum income tax threshold from 2000 yuan. This was done in order to 'boost domestic demand' - a rise in disposable income increases consumer expenditure in theory and thus boosts aggregate demand. The authorities are however cautious of the increase in income leading to inflation - this suggests that the authorities deem the Chinese economy to be near full employment of resources (according to the Keynesian outlook).

This article discusses how China's personal tax rate is too high and will be lowered in order to create incentives for work. Good example of supply-side policies.

This article discusses high tax rates that occurred in the past and the supply-side policies used to eliminate them now and today.

in this article is vividly showed how tax on some products increases their price and decreases their consumption because consumption of these goods causes negative externalities

New Zealand First leader Winston Peters has railed against partial privatisation, the increase in GST and tax cuts for the wealthy as he tries to galvanise his supporters ahead of this year's election. In a speech to Ashburton Grey Power today, Mr Peters told the audience, "The worldwide recession is not your fault. It was caused by the greedies in the banking and finance industry."

Since it's not in the government's favor to impose taxes or increase interest so as to gain the people's voices in the case of re-election, some country's central banks have become independent, as in the case of Mexico in this article. With this independence, the central banks opt to impose their control of inflation through the increase and decrease of interest rates with the objective of maintaining a low, stable rate of inflation. Recently, Mexico's annual inflation rate cooled in February to its lowest in 14 months despite some sharp increases in food prices. This kept the pressure off the central bank to raise interest rates soon.

This article discuses how the increase in VAT indirect taxes, past year in Spain, by the government led to a generalized inflation that stroke the market quite heavily.

Imposition of levies (taxes) by G20 governments to reduce government budget deficit: The G20 summit held in Canada over the weekend has confirmed the trend of fiscal consolidation which is happening in many of the major world economies in the wake of the financial crisis and recession. Leaders have agreed that debt as a proportion of gross domestic product needs to be stabilised or actually reduced by 2016 and it was noted that all the G20 countries had committed to halving their respective deficits within three years. Plans to introduce a global levy on banks have, as expected, been dropped although the summit confirmed that member countries would be free to introduce their own measures. The UK introduced a levy in the emergency Budget last week and some other European countries also have plans to do so...

As we all know alcohol is, nowadays, one of the main producers of externalities, an increase in taxes for it means a decrease on the demand for it.