 Raising government revenue. Chapter 2 in Rethinking Wealth and Taxes, 2020, pp 52-76 from Edward Elgar Publishing Abstract: This chapter provides information on the current composition of taxes used to raise government revenue in the United States (US), Canada and other Organisation for Economic Co-operation and Development (OECD) countries. The discussion reveals a bewildering array of taxation methods in the OECD spread across local, state/provincial and national jurisdictions: income taxes, social security, payroll and salary taxes, consumption taxes (goods and services taxes, sales taxes, excise taxes), property taxes and a small residual category of ‘other taxes’. The percentage contribution of each type of tax to total tax revenue and the size of revenue as a percentage of gross domestic product are reported. This aggregate overview is supplemented by detailed examination of government revenue sources in Canada and the US broken down into federal, state/provincial and local jurisdictions. Specific details for British Columbia, Nevada and the city of Vancouver are provided. With this background, available imprecise estimates of the contribution by the wealthy to the various tax burdens are reviewed. The chapter concludes with a glimpse into the world of tax havens and the use that the wealthy make of these jurisdictions. Keywords: Economics and Finance (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:19717_2 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Chapters from Edward Elgar Publishing |
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