Taxes |
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Authors: | Eugene F Fama |
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Institution: | Booth School of Business, University of Chicago, Chicago, Illinois, USA |
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Abstract: | This is a compendium of notes on taxes. Section 2 presents a general tax scheme. It is a tax on value added by labour and capital that does not favour one or the other. Section 3 contrasts taxation of business income for pass-through entities and corporations. Section 4 discusses property taxes as taxes on housing services and so a form of income tax. Section 5 turns to wealth taxes. The closing Section 6 attempts to explain why people donate to nonprofits but minimise tax payments to governments, even though governments and nonprofits engage in many of the same activities. |
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Keywords: | H2 business tax nonprofits value added tax wealth tax |
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