PRINCIPLES OF TAXATION
Once the government has decided to collect some amount of taxes, it has a bewildering array of possible taxes available to it. It can tax income, tax profits, or tax sales. It can tax the rich or tax the poor, tax the old 01 lax the ). Are there any guidelines that can help construct ‘fair’and efficient tax Indeed there are.’ Economists and political philosophers have proposed two principles for organizing a tax)
For instance, if the construction ‘of a new bridge is funded by tolls on the bridge, that’s a reflection of the benefit principle, since you pay for the bridge only if you use it. But if the bridge is funded out of income-tax collections, that would be an example of the ability-to-pay principle.
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