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Rational Economic Exchange
Rational economic exchange also called goods exchange economy is an economic transaction where goods or services are transferred from the provider for a return of relative value (compensation) from the receiver in a manner that advances the economic interests of both parties. Rational economic exchange is implied in voluntary economic transactions between private parties (i.e., regular commerce) where it is assumed that an economic transaction would not occur unless both parties believed they would be better off after the trade. Rational economic exchange can be implied in governmental taxation and spending where the agents of the citizen—government legislators and administrators—implement fiscal policy where tax assessment to the citizen is related, substantially, to an implied level of government service. See also *Implied level of government service *Taxation in the United States *Islamic economic jurisprudence Islam (; ar, ۘالِإسلَام, , ) is an Abrah ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic
An economy is an area of the Production (economics), production, Distribution (economics), distribution and trade, as well as Consumption (economics), consumption of Goods (economics), goods and Service (economics), services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarcity, scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two grou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Implied Level Of Government Service
The implied level of government service is the value of government benefits and services provided a person, partnership, corporation, or other legal entity over a given period of time, including the proportional value of general governmental expenses and social welfare costs. The implied level of government service may be directly calculated in some cases, and approximated in others. For instance, a state park that is dependent on visitor fees for operation could divide the yearly operational cost by the number of expected user days, and charge a daily tax or fee based on that calculation. This fee for service is directly calculated. A city could have multiple services and social welfare expenditures—police, fire, library, refuse removal, and emergency food and housing support—and the exact service to individual taxpayers in those areas might be difficult or impossible to track. The city, however, can set a standard such as number of residential occupants, employee number, or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Implied Level Of Government Service
The implied level of government service is the value of government benefits and services provided a person, partnership, corporation, or other legal entity over a given period of time, including the proportional value of general governmental expenses and social welfare costs. The implied level of government service may be directly calculated in some cases, and approximated in others. For instance, a state park that is dependent on visitor fees for operation could divide the yearly operational cost by the number of expected user days, and charge a daily tax or fee based on that calculation. This fee for service is directly calculated. A city could have multiple services and social welfare expenditures—police, fire, library, refuse removal, and emergency food and housing support—and the exact service to individual taxpayers in those areas might be difficult or impossible to track. The city, however, can set a standard such as number of residential occupants, employee number, or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In The United States
The United States, United States of America has separate Federal government of the United States, federal, U.S. state, state, and Local government in the United States, local governments with taxes imposed at each of these levels. Taxes are levied on income, payroll, property, sales, Capital gains tax in the United States, capital gains, dividends, imports, estates and gifts, as well as various fees. In 2020, taxes collected by federal, state, and local governments amounted to 25.5% of GDP, below the OECD average of 33.5% of GDP. The United States had the seventh-lowest tax revenue-to-GDP ratio among OECD countries in 2020, with a higher ratio than Mexico, Colombia, Chile, Ireland, Costa Rica, and Turkey. Taxes fall much more heavily on labor income than on capital income. Divergent taxes and subsidies for different forms of income and spending can also constitute a form of indirect taxation of some activities over others. For example, individual spending on higher education can ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic Economic Jurisprudence
Islam (; ar, ۘالِإسلَام, , ) is an Abrahamic religions, Abrahamic Monotheism#Islam, monotheistic religion centred primarily around the Quran, a religious text considered by Muslims to be the direct word of God in Islam, God (or ''Allah'') as it was revealed to Muhammad, the Muhammad in Islam, main and final Islamic prophet.Peters, F. E. 2009. "Allāh." In , edited by J. L. Esposito. Oxford: Oxford University Press. . (See alsoquick reference) "[T]he Muslims' understanding of Allāh is based...on the Qurʿān's public witness. Allāh is Unique, the Creator, Sovereign, and Judge of mankind. It is Allāh who directs the universe through his direct action on nature and who has guided human history through his prophets, Abraham, with whom he made his covenant, Moses/Moosa, Jesus/Eesa, and Muḥammad, through all of whom he founded his chosen communities, the 'Peoples of the Book.'" It is the Major religious groups, world's second-largest religion behind Christianity, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Reform
Tax reform is the process of changing the way taxes are collected or managed by the government and is usually undertaken to improve tax administration or to provide economic or social benefits. Tax reform can include reducing the level of taxation of all people by the government, making the tax system more progressive or less progressive, or simplifying the tax system and making the system more understandable or more accountable. Numerous organizations have been set up to reform tax systems worldwide, often with the intent to reform income taxes or value added taxes into something considered more economically liberal. Other reforms propose tax systems that attempt to deal with externalities. Such reforms are sometimes proposed to be revenue-neutral, for example in revenue neutrality of the FairTax, meaning they ought not result in more tax or less being collected. Georgism claims that various forms of land tax can both deal with externalities and improve productivity. Austral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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