Exam 2 Prep Flashcards
1
Q
Why Tax?
A
R: Raise revenue for public expenditure
P: Provision of public goods and services
E: Economic management tool
A: Allocation and distribution of resources.
2
Q
Elements of a good tax
A
Simplicity
Neutrality
Certainty
Efficiency
Equity - Horizontal & Vertical
3
Q
What is juridical Double Taxation
A
Same person is taxed twice on the same income
4
Q
What is economic double taxation
A
