Taxation: Criteria for Evaluating Revenue Options

Taxation: Criteria for Evaluating Revenue Options
1. Your textbook in the chapter on “Taxation: Criteria for Evaluating Revenue Options” it outlined several standards for transparency: 1) adoption, 2) administration, 3) compliance requirements, and 4) amount of tax burden. Tell me how well property tax revenue collection processes used by Texas cities stack up to the transparency standards described in you textbook.
2. If you were the head of the Internal Revenue Service what steps would you take to close the individual income tax gap described in the chapter on “Major Tax Structures: Income Tax” and what do you think would be political consequences of such action by the Internal Revenue Service?
3. There is a movement in several states to increase taxes on consumption to reduce or eliminate states’ reliance on income tax revenue. What do you think will be the equity impact on residents living in those states as result of such a change in state revenue policy?
4. If you were a state legislator which “limits and controls” outlined in the chapter on “Property Taxes” would you institute in your state to reduce tax burden in your state and what would be the consequences from your actions?
5. What are the limitations of user charges?
6. What lessons did you learn from the revenue projection exercise that your instructor walked the class through during one of your evening class sessions?
7. Please give me some examples of services that should follow the “subsidiarity principle.”
8. If you applied the four factors (the economy, debt, the government, and financial analysis) that bond rating agencies use to rate the fiscal creditworthiness of state and local governments how well would the City of Detroit fare in that process?CLICK HERE FOR MORE ON THIS TOPIC