Discuss tax systems and political philosophies associated with income inequaliti

Question

Discuss tax systems and political philosophies associated with income inequalities. List and describe the relationship between the two tax principles and three tax systems discussed in this course. Include comments regarding the effects of tax on society’s welfare highlighting sources, recipients, and types of discrimination that are present. List and describe the three political philosophies as well. Include the best pairing of tax system for each political philosophy. Bonus: Include a prominent philosopher within each philosophy discussed.

Explanation / Answer

We all know that resources of earth are for all. The most important economic goals should be making possible that goods and services are available to allow everyone to have a decent life, and to ensure that these resources are distributed widely enough for all or most people to enjoy them.

But we all are also very much aware of income inequality. Income inequality brings higher rates of health and social problems (obesity, mental illness, homicides, teenage births,incarceration, child conflict, drug use), and lower rates of social goods (life expectancy, educational performance, trust among strangers,women's status, social mobility, even numbers of patents issued per capita). leads to the social ills through the psychosocial stress, status anxiety it creates.

Hence it is for society's welfare that inequality should be removed. INcome inequality can be removed through redistribution of income and wealth. We can use taxation as a mechanism for this. IN such mechanism, taxes are being paid on incomes of individuals and companies. THe more an individual earns more it will pay, that will be used by government towards society's welfare. SUch taxes are also used in welafe of poorers. This way inequalities could be reduced.

Related Questions

Navigate

• Browse (All)
• Browse D
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.