Pay As You Spend: The Economic Justification

R. A. Rayman

Chapter 18 in Toxic Economic Theory, Fraudulent Accounting Standards, and the Bankruptcy of Economic Policy, 2013, pp 181-191 from Palgrave Macmillan

Abstract: Abstract The ultimate object of taxation is to reserve goods and services for public purposes. Since a nation’s economic output is produced by the combined activity of millions of private individuals, some method has to be found to prevent them from appropriating the whole lot for their own personal use.

Keywords: Public Consumption; Private Consumption; Private Saving; Economic Justification; Direct Taxation (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-30450-6_18

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DOI: 10.1007/978-1-137-30450-6_18

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