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  • L23 Lecture on US Tax Systems

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    Ali Khan CSP Officer
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    Today's lecture covered the primary sources of tax revenue in the United States including income, payroll, consumption, property and corporate taxes. It discussed key concepts such as progressive tax systems, arguments around taxing savings, negative externalities, the Laffer Curve, and solutions to reduce leakage from income transfers to poor people. Students were asked to learn terms including marginal tax rates, average tax rates, value added tax, and sin taxes.

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    MircoMasters-Mircoeconomic

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    Today's lecture covered the primary sources of tax revenue in the United States including income, payroll, consumption, property and corporate taxes. It discussed key concepts such as progressive tax systems, arguments around taxing savings, negative externalities, the Laffer Curve, and solutions to reduce leakage from income transfers to poor people. Students were asked to learn terms including marginal tax rates, average tax rates, value added tax, and sin taxes.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    3 views5 pages

    L23 Lecture on US Tax Systems

    Uploaded by

    Ali Khan CSP Officer
    Today's lecture covered the primary sources of tax revenue in the United States including income, payroll, consumption, property and corporate taxes. It discussed key concepts such as progressive tax systems, arguments around taxing savings, negative externalities, the Laffer Curve, and solutions to reduce leakage from income transfers to poor people. Students were asked to learn terms including marginal tax rates, average tax rates, value added tax, and sin taxes.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Today’s lecture (L23)

    Things to know
    • Primary sources of tax revenue in the United States
    • Different types of taxes (income, payroll, consumption, property and corporate)
    • What it means to have a progressive tax system
    • Arguments for and opposed to taxing savings
    • What negative externalities are and why we might want to use taxes to undo them
    • What the Laffer Curve is, and where the US is likely located on it
    • Three solutions used to reduce leakage from income transfers to poor people

    Terms to Know
    • Marginal Tax Rates
    • Average Tax Rates
    • Value Added Tax (VAT)
    • Sin Taxes
    Figure 23-1: Revenue by type of tax
    Figure 23-2: Marginal tax rates
    Figure 23-3: Laffer curve
    Figure 23-4: Earned income tax credit

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