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A basic review work of traditional and current tax systems; describing their method of operation and impact. It presents insight into collection problems, economic pressures of application, and magnitudes of potential revenues.
Most Students lack a real understanding of the nature of taxes: what they specifically are, where they are applied and how, the costs of Collection for each tax system, and the amounts of Public finance which can be raised. This is unfortunately true even for many Economics and Business students; who basically dismiss Taxes as a necessary evil to pay for government services. This contempt allows taxing agencies free rein to pursue even ruineous tax practices.
This Work tries to expound the basic structures which are used in the tax system process in simplified manner, the base taxed Individuals on which each tax system impacts, and the degree of economic impact by each means of taxation. Inherent in the Work is the Author's belief that the exact placement of taxation can injure economic performance as badly, as does the actual amounts of revenue withdrawn; this due to the economic incapacities taxed Individuals may endure, by reduction of necessary economic underwriting of economic endeavor.
The Work is recommended for All, as preparation study, before entrance into more detailed studies of Taxes. It presents a broad Overview of the taxing process, with highlights of what the tax does and does not do. It indicates tax impact of the various systems; indicating who may be helped, and who may be injured by the process. It contains suggested alterations of basic tax methods, to advance economic performance; all without loss of public funding.