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Acronyms that contain the term optimal tax
Page #4What does optimal tax mean? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: optimal tax.
Possible matching categories:
Term | Definition | Rating |
---|---|---|
QOGE | Quasi Optimal Gaussian Elimination | |
MODPA | Multiple Optimal Depth Predictors Analysis | |
OFMG | Optimal Function Medical Group | |
AMOEBA | A Multidirectional Optimal Ecotope Based Algorithm | |
KORD | K Optimal Rule Discovery | |
SCOOP | Service Codes Online For Optimal Pricing | |
OINL | Optimal Intramuscular Needle Length | |
OGT | Optimal Growth Temperature | |
OBSS | Optimal Base Station Scheduler | |
OAE | Optimal Adding Edge | |
COSTA | Communication Optimal Shuffle and Transpose Algorithm | |
OTNC | Optimal Tracking Neuro-Controller | |
DMOC | Discrete Mechanics and Optimal Control | |
GLOSA | Green Light Optimal Speed Advisory | |
OCN | Optimal Climate Normals | |
OTI | Optimal Technologies International | |
OTDD | Optimal Transport Dataset Distance | |
OFP | Optimal Fetal Positioning | |
OFT | Optimal foraging theory | |
OHEP | Optimal Health Exercise Physiology | |
ORP | Optimal Retirement Planner | |
ORDA | Optimal Response Decision Aid | |
OPQ | Optimal Picture Quality | |
ODTD | Optimal Driving Torque Distribution | |
GLOSA | Green Light Optimal Speed Advice |
What does optimal tax mean?
- Optimal tax
- Optimal tax theory or the theory of optimal taxation is the study of designing and implementing a tax that maximises a social welfare function subject to economic constraints. The social welfare function used is typically a function of individuals' utilities, most commonly a utilitarian function, so the tax system is chosen to maximise the sum of individual utilities. Tax revenue is required to fund the provision of public goods and other government services, as well as for redistribution from rich to poor individuals. However, most taxes distort individual behaviour, because the activity that was being taxed becomes relatively less desirable; for instance, taxes on labour income reduce the incentive to work. The optimization problem involves minimizing these distortions away from the efficient state, caused by taxation, while achieving desired levels of redistribution and provision of public services. Exceptions to this trade-off include non-distortionary taxes, such as lump-sum taxes, where individuals cannot change their behaviour to reduce their tax burden, and Pigouvian taxes, where the market consumption of a good is inefficient and a tax brings consumption closer to the efficient level.In the Wealth of Nations, Adam Smith observed that “Good taxes meet four major criteria. They are (1) proportionate to incomes or abilities to pay (2) certain rather than arbitrary (3) payable at times and in ways convenient to the taxpayers and (4) cheap to administer and collect.”
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"optimal tax." Abbreviations.com. STANDS4 LLC, 2024. Web. 22 Sep. 2024. <https://www.abbreviations.com/optimal%20tax>.
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