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Regressive Tax
A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. "Regressive" describes a distribution effect on income or expenditure, referring to the way the rate progresses from high to low, so that the average tax rate exceeds the marginal tax rate.Hyman, David M. (1990) ''Public Finance: A Contemporary Application of Theory to Policy'', 3rd, Dryden Press: Chicago, ILJames, Simon (1998) ''A Dictionary of Taxation'', Edgar Elgar Publishing Limited: Northampton, MA In terms of individual income and wealth, a regressive tax imposes a greater burden (relative to resources) on the poor than on the rich: there is an inverse relationship between the tax rate and the taxpayer's ability to pay, as measured by assets, consumption, or income. These taxes tend to reduce the tax burden of the people with a higher ability to pay, as they shift the relative burden increasingly to those with a lower ability to pay. The regressivity ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Rate
In a tax system, the tax rate is the ratio (usually expressed as a percentage) at which a business or person is taxed. There are several methods used to present a tax rate: statutory, average, marginal, and effective. These rates can also be presented using different definitions applied to a tax base: inclusive and exclusive. Statutory A statutory tax rate is the legally imposed rate. An income tax could have multiple statutory rates for different income levels, where a sales tax may have a flat statutory rate. The statutory tax rate is expressed as a percentage and will always be higher than the effective tax rate. Average An average tax rate is the ratio of the total amount of taxes paid to the total tax base (taxable income or spending), expressed as a percentage. * Let t be the total tax liability. * Let i be the total tax base. ::= \frac. In a proportional tax, the tax rate is fixed and the average tax rate equals this tax rate. In case of tax brackets, commonly used ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Excise
file:Lincoln Beer Stamp 1871.JPG, upright=1.2, 1871 U.S. Revenue stamp for 1/6 barrel of beer. Brewers would receive the stamp sheets, cut them into individual stamps, cancel them, and paste them over the Bunghole, bung of the beer barrel so when the barrel was tapped it would destroy the stamp. An excise, or excise tax, is any duty (economics), duty on manufactured goods (economics), goods that is levied at the moment of manufacture rather than at sale. Excises are often associated with customs duties, which are levied on pre-existing goods when they cross a designated border in a specific direction; customs are levied on goods that become taxable items at the ''border'', while excise is levied on goods that came into existence ''inland''. An excise is considered an indirect tax, meaning that the producer or seller who pays the levy to the government is expected to try to recover their loss by raising the price paid by the eventual buyer of the goods. Excises are typically impos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Management (Canada)
Canada's supply management (), abbreviated SM, is a national agricultural policy framework used across the country, which controls the supply of dairy, poultry and eggs through production and import controls and pricing mechanisms. The supply management system was authorized by the 1972 ''Farm Products Agencies Act'', which established the two national agencies that oversee the system. The Agriculture and Agri-Food Canada federal department is responsible for both the Canadian Dairy Commission and its analogue for eggs, chicken and turkey products, the Farm Products Council of Canada. Five national supply management organizations, the SM-5 Organizations — Egg Farmers of Canada (EFC), Turkey Farmers of Canada (TFC), Chicken Farmers of Canada (CFC), the Canadian Hatching Egg Producers (CHEP) and the Ottawa-based Canadian Dairy Commission (CDC), a Crown corporation — in collaboration with provincial and national governing agencies, organizations and committees, administer the supp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poultry
Poultry () are domesticated birds kept by humans for their eggs, their meat or their feathers. These birds are most typically members of the superorder Galloanserae (fowl), especially the order Galliformes (which includes chickens, quails, and turkeys). The term also includes birds that are killed for their meat, such as the young of pigeons (known as squabs) but does not include similar wild birds hunted for sport or food and known as game. The word "poultry" comes from the French/Norman word ''poule'', itself derived from the Latin word ''pullus'', which means "small animal". Recent genomic study involving the four extant Junglefowl species reveals that the domestication of chicken, the most populous poultry species, occurred around 8,000 years ago in Southeast Asia - although this was previously believed to have occurred later - around 5,400 years ago - in Southeast Asia. The process may have originally occurred as a result of people hatching and rearing young birds fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cheese
Cheese is a dairy product produced in wide ranges of flavors, textures, and forms by coagulation of the milk protein casein. It comprises proteins and fat from milk, usually the milk of cows, buffalo, goats, or sheep. During production, milk is usually acidified and the enzymes of either rennet or bacterial enzymes with similar activity are added to cause the casein to coagulate. The solid curds are then separated from the liquid whey and pressed into finished cheese. Some cheeses have aromatic molds on the rind, the outer layer, or throughout. Over a thousand types of cheese exist and are produced in various countries. Their styles, textures and flavors depend on the origin of the milk (including the animal's diet), whether they have been pasteurized, the butterfat content, the bacteria and mold, the processing, and how long they have been aged. Herbs, spices, or wood smoke may be used as flavoring agents. The yellow to red color of many cheeses is produced by adding a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicken Egg
Humans and human ancestors have scavenged and eaten animal eggs for millions of years. Humans in Southeast Asia had domesticated chickens and harvested their eggs for food by 1,500 BCE. The most widely consumed eggs are those of fowl, especially chickens. Eggs of other birds, including ostriches and other ratites, are eaten regularly but much less commonly than those of chickens. People may also eat the eggs of reptiles, amphibians, and fish. Fish eggs consumed as food are known as roe or caviar. Bird and reptile eggs consist of a protective eggshell, albumen ( egg white), and vitellus (egg yolk), contained within various thin membranes. Egg yolks and whole eggs store significant amounts of protein and choline, and are widely used in cookery. Due to their protein content, the United States Department of Agriculture formerly categorized eggs as ''Meats'' within the Food Guide Pyramid (now MyPlate). Despite the nutritional value of eggs, there are some potential health issues a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Milk
Milk is a white liquid food produced by the mammary glands of mammals. It is the primary source of nutrition for young mammals (including breastfed human infants) before they are able to digestion, digest solid food. Immune factors and immune-modulating components in milk contribute to milk immunity. Early-lactation milk, which is called colostrum, contains antibody, antibodies that strengthen the immune system, and thus reduces the risk of many diseases. Milk contains many nutrients, including protein and lactose. As an agricultural product, dairy milk is Milking, collected from farm animals. In 2011, Dairy farming, dairy farms produced around of milk from 260 million dairy cows. India is the world's largest producer of milk and the leading exporter of skimmed milk powder, but it exports few other milk products. Because there is an ever-increasing demand for dairy products within India, it could eventually become a net importer of dairy products. New Zealand, Germany and the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Engel's Law
Engel's law is an economic relationship proposed by the statistician Ernst Engel in 1857. Even though Engel's law was proposed roughly 160 years ago, it holds relevance today in the context of poverty, especially the reduction of poverty. For instance, the lines and rates for national poverty are often determined by the food share of household expenditure. One definition of Engel's law by the Merriam-Webster dictionary is as follows: ''"a generalization in economics: such as family income increases, the percentage spent for food decreases, that spent for clothing, rent, heat, and light remains the same, while that spent for education, health, and recreation increases"'' A quotation of Engel himself from 1932 reveals the same relationship between income and percentage of income spent on food, but also indicates the application of Engel's Law in measuring standard of living: ''"The poorer is a family, the greater is the proportion of the total outgo amily expenditureswhich mus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Window Tax
Window tax was a property tax based on the number of windows in a house. It was a significant social, cultural, and architectural force in England, France, and Ireland during the 18th and 19th centuries. To avoid the tax, some houses from the period can be seen to have bricked-up window-spaces (ready to be glazed or reglazed at a later date). In England and Wales it was introduced in 1696 and was repealed 155 years later, in 1851. In France it was established in 1798 and was repealed in 1926. Scotland had window tax from 1748 until 1798. History The tax was introduced in England and Wales in 1696 under King William III and was designed to impose tax relative to the prosperity of the taxpayer, but without the controversy that then surrounded the idea of income tax. At that time, many people in Britain opposed income tax, on principle, because the disclosure of personal income represented an unacceptable governmental intrusion into private matters, and a potential threat to pers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Council Tax
Council Tax is a local taxation system used in England, Scotland and Wales. It is a tax on domestic property, which was introduced in 1993 by the Local Government Finance Act 1992, replacing the short-lived Community Charge The Community Charge, commonly known as the poll tax, was a system of taxation introduced by Margaret Thatcher's government in replacement of domestic rates in Scotland from 1989, prior to its introduction in England and Wales from 1990. It pr ..., which in turn replaced the domestic rates. Each property is assigned one of eight bands in England and Scotland (A to H), or nine bands in Wales (A to I), based on property value, and the tax is set as a fixed amount for each band. The more valuable the property, the higher the tax, except for properties valued above £320,000 (in 1991 prices). Some property is exempt from the tax, and some people are exempt from the tax, while some get a discount. In 2011, the average annual levy on a property in England was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carbon Tax
A carbon tax is a tax levied on the carbon emissions required to produce goods and services. Carbon taxes are intended to make visible the "hidden" social costs of carbon emissions, which are otherwise felt only in indirect ways like more severe weather events. In this way, they are designed to reduce carbon dioxide ( ) emissions by increasing prices of the fossil fuels that emit them when burned. This both decreases demand for goods and services that produce high emissions and incentivizes making them less carbon-intensive. In its simplest form, a carbon tax covers only CO2 emissions; however, it could also cover other greenhouse gases, such as methane or nitrous oxide, by taxing such emissions based on their CO2-equivalent global warming potential. When a hydrocarbon fuel such as coal, petroleum, or natural gas is burned, most or all of its carbon is converted to . Greenhouse gas emissions cause climate change, which damages the environment and human health. This negative ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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