Essay about Fair Tax Avoidance of Taxes - 1696 Words

PA 8720 - â€Å"Fair Tax† Policy Analysis John Maynard Keynes stated that â€Å"the avoidance of taxes is the only intellectual pursuit that carries any reward,† (Waters, 2011). In Missouri, while seeking to avoid an income tax, advocates for the â€Å"Fair Tax† have seemingly presented a proposal that is the antithesis of the pursuit Keynes deems worthy. They are proposing a constitutional amendment that would impose a sales tax that no Missourian could avoid. The â€Å"Fair Tax† would cost everyone, no matter their income level and even have its greatest impact on the most vulnerable among us. Even as a tax of this type would expand the tax base, the repercussions to the taxpayers, the state budget, and the state economy would present hurdles too high to†¦show more content†¦The initiative petition however, caps the state sales tax at seven percent (Constitutional amendment to, 2012); leaving no mechanism for recovering such a substantial loss in revenue. James Moody, a former budget director, called the proposal â€Å"fiscally untenable,† stating that it would â€Å"either bankrupt the state, or in the alternative, bankrupt the poor and working lower and middle income classes.† (Moody, 2011). This dilemma is furthered when exemptions are taken into account. Just as Irene Rubin noted in The Politics of Public Budgeting (2010), â€Å"as the burden on a group increases, the demand for exceptions for that group is likely to increase.† Moody applies this notion to the â€Å"Fair Tax† when stating that â€Å"the simple math is that exemptions from taxation lower the taxable base,† and that â€Å"the more tax exemptions assumed, the lower the tax base, and the higher the tax rate has to be,† (2011). In a Columbia Daily Tribune editorial, Henry Waters stated â€Å"the new sales tax would instantly become riddled with exemptions,† and that â€Å"for every exemption, the rate must go up,† (2011). Under the proposal, cities and counties would have the ability to levy an additional sales tax on top of the tax imposed by the state, but the total is not to exceed ten percent. If current local rates stood, those shopping in St. Louis city would need to pay up to 11.275 percent on most purchases, with those in St. Louis County paying up toShow MoreRelatedA Tax Avoidance Case Study Essay1340 Words   |  6 PagesThe idea that morally dubious goals may be legitimate inside capitalism will be discussed in light of a tax avoidance case study. Apple, a multinational technology company, has avoided paying its fair amount of income tax for years. This paper will consider the structural embeddedness of Apple’s legitimised goal—the maximisation of profit—through the ‘Double Irish Dutch sandwich’ tax haven model. Durkheim’s theory of collective conscience was used in explaining the legitimisation of the company’sRead MoreThe Tax Laws And The U nited States Constitution1097 Words   |  5 Pagesof federal income taxes. Income taxes were first proposed as a better way of gathering revenue, as well as an effective measure to manipulate economic spending. However, the current tax code bears very little resemblance to the relatively simple codes that were originally written into law. Today’s tax laws have grown astonishingly complex and unequally distributes the burden of tax liabilities. Our country should confront the issues derived from the increasing complexity of the tax laws and equallyRead MoreTax Reform : Stimulate Economic Growth1326 Words   |  6 PagesTax reform to stimulate economic growth in America There is an ominous shadow hanging over America consuming its wealth, and dividing its people over the promise of fair and equal treatment. American debt has no rival in the modern world, and it continues to spiral out of control as politicians’ debate solutions that would bring it under control. To manage this debt citizens are burdened with a federal income tax system that is inefficient, discriminatory and cumbersome to the American people. SinceRead MoreIn The United Kingdom (Uk), The Professional Conduct In1508 Words   |  7 PagesRelation to Tax (PCRT) is adopted to govern the conduct of tax professionals. The PCRT is a guide jointly produced by seven-leading tax and accountancy bodies which sets out the fundamental principles and standards of behaviour that tax consultants are expected to follow. These regulations include: i)fundamental principles, ii)expected standards and iii)general and specific guidance. The fundamental principles form the foundation of PCRT’s standards and guidance. It governs the ethicality of tax professionalsRead MoreTax Shelter and Tax Haven1448 Words   |  6 PagesTax Shelter I. Definition Any method of decreasing taxable income in a payments to tax collecting entities, including state and federal government. The most common type of tax shelter is an employer-sponsored 401(k)plan. a. Types of tax shelters Some tax shelters are questionable or even illegal: Offshore companies. A company which is incorporated outside the jurisdiction of its primary operations regardless of whether that jurisdiction is an offshore financial centre. Due to differing taxRead MoreReflections Of The Progressive And Flat Rate Tax Structure1377 Words   |  6 PagesFlat Rate Tax Structure Tax structures are complex and play a prevalent role in American society. Taxation is important to understand because the designed tax policies are intended to foster economic stimulation and behavior. Although economists differ on the appropriate American taxation structure, taxation promotes both incentives and disincentives in behavioral outcomes. These differing views are debated to whether the United States should adjust from its present progressive income tax structureRead MoreThe Tax Reform Act Of 19861607 Words   |  7 PagesThe main topic of this research paper is taxation. Seeing that this topic is pretty open, I’ve chosen to write about the proposed idea of Fair Tax. Along with a little bit of insight on Fair Tax and a couple highlights of history, I’ll try and explain some pros and cons as well as give my opinion on the topic. According to vocabulary.com â€Å"Taxation refers to the practice of a government collecting money from its citizens to pay for public services†. Our country was practically founded becauseRead MoreThe Current Federal Tax System1415 Words   |  6 PagesIn my opinion as to whether or not the current federal income tax structure is fair for most Americans is that it is not fair. The following information will provide support for my decision. The main federal tax brackets are for single individuals, married individuals filing separately, married individuals filing as a couple and individuals filing as a head of household. In the financial year 2014, the lowest tax bracket paid a rate of 10% on income up to $9,075 while the highest bracket paidRead MoreCorporate Tax Case Study754 Words   |  4 Pagescorporate tax rate in the United States? Yes argument. It is an undisputed fact that the United States has one of the highest corporate tax rates of Organization of Economic Cooperation and Development (OECD) countries. As a result many American multinationals resort to tax inversions or other methods to try to reduce their tax rate. Consider Apple, which has funnelled profits through Ireland for years rather than repatriate those profits to the United States and pay America’s corporate tax rate.Read MoreReforming The United States Income Tax1061 Words   |  5 PagesStates Income Tax Ryan Sauer Wayland Baptist University Abstract â€Æ' In January of 2005, President George W. Bush appointed a bipartisan committee to propose new income tax policies; they were referred to as the â€Å"President’s Advisory Panel on Federal Tax Reform†. The goal of the panel was to advise new options in an attempt to make filing of the United States personal income tax simpler. The made a statement about the difficulty that normal citizens have when filing their tax returns,

The Roots For The Puritan Movement - 1639 Words

The introduction of the Puritans in New England, both as a society and as a culture, was necessary as a catalyst for change in early New England, and to a larger extent, British North American government. Historical roadmap - â€Å"Help, Help, I’m Being Repressed!† The roots for the Puritan movement go further back in history than the agreed upon date of 1517. This is the point in time when Martin Luther first came on the scene with his Ninety Five Thesis, in which he detailed the grievances that were evident to Luther, and centralized around the acts that had been either ongoing or had been recent additions to the proper observance of the Anglican branch of the Catholic church. Amongst the Ninety Five items were practices like: Indulgences,†¦show more content†¦Martin Luther and his philosophy, along with the treatises from John Calvin, served as a foundational doctrine for the next generation of Protestant Reformers. This offshoot of religious thought process also produced far reaching effects that would cause dissent between the Anglican Church and the Protestants. This would provoke the Anglican Church, the state church to begin sanctions and oppression of the Protestants within the borders of England. This would be everything fro m seizure of lands and property, to withholding of wages to people showing overt approval to the protestant claims. For many Puritans, already displaced and discouraged from the state religious, this served as a polarizing stance, and the major part that would strengthen the resolve of many Puritans to risk the trip to British North America. How to create a government – on paper Out of the morass of repression arose a notion: Escape! Several journeys were attempted, with colonies in mind for the Puritans, notably the Popham Colony, who finally made a short run on North American soil in 1609. Ultimately a failure as a colony, surviving only a year before the remaining population returned to England. Even though it failed as a colony, it served as a viable concept to whet the appetites of others, and open the doors to a flood of immigrants to this land without direct English involvement or influence. The main attempts to pursue the immigration took off officially in around 1620 with the Pilgrims,

Financial ratios Analysis of al karam and gul ahmed free essay sample

Trend for net profit margin is fluctuating. No smooth pattern can be observed. However Alkaram never made loss whereas Gul Ahmed faced the situation in 2012. Current ratios which shows the ability of the firm to pay its short term debts by current assets seems better for Alkaram as it is always above 1. Both operate in cloth market and their suppliers might not wait for a longer period for them to pay. Gul Ahmed may de-motivate its suppliers if payments are not made on time. Acid test ratio is quite low for both companies which show a major part of current assets are stock in trade. This reduces the firm’s ability to pay its debts. However Alkaram is doing better than Gul Ahmed and actual comments could be made by comparing the ratios with industry average. Inventory turnover is better for Alkaram in all years but it significantly fell in the last year. We will write a custom essay sample on Financial ratios Analysis of al karam and gul ahmed or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It might be due to excess stock piled up maybe to catch cost advantage for the period as there might be a significant expected rise in raw material prices. Alkaram usually sells its products much faster than the inventory it piles up. Gul Ahmed might have tightened up its policies for credit it offers to the market as it reflects the Day Sales Outstanding which has dropped significantly through the years. It would release the cash for Gul Ahmed but might also result in lost sales and lost customers. Alkaram on the other hand maintains the ratio through the years. Debt to Equity ratio is higher for Gul Ahmed. It is too high and shows that most of the finance is from debt which means high interest payments. But this might also be a benefit if company is earning much and company is also avoiding tax by having a large part of income distributed in interest. On the other hand alkaram also have a significant debt but much lesser than Gul Ahmed. In other terms we can say Gul Ahmed is high on risk as it has to meet interest obligations anyhow and if company ran out of cash than it might collapse and not be able to revive. Days sales outstanding is higher for gul ahmed where as it is low for al karam which means that al karam takes comparatively less time in collecting revenues after its sales and its liabilities are low and hence it can purchase new inventory more quickly. But during the last 2 years Gul ahmed’s DSO has decreased significantly which is a good sign as it is obtaining its revenues more quickly than before. Fixed Asset Turn over for Al karam is greater than that of Gul ahmed which means that it is generating greater revenue from its assets as compared to Gul ahmed and hence it is doing far better as compared to gul ahmed. But during the last 2 years gul ahmed has done significantly well and The ratio for the last two years has almost been the same which means that its performance is gradually increasing.

Surviving Depression at University

Surviving Depression at University Depression is a serious and recognised mental health condition, relatively common on university campuses, as well as society in general. As well as speaking you your mental health counsellor or GP, there are strategies you can use to tackle your depression, finding a positive way forward. The steps towards managing your depression can seem extremely difficult, but they're the quickest and easiest ways to complement your medication or counselling. Self help Everyone is affected by depression differently, so if you'll need to figure out your own self help strategy to work alongside any medication or counselling you're receiving. The best way to start is to ask yourself â€Å"what is the smallest change I can make that will make the most difference?† Imagination techniques Another strategy is to imagine your life depression-free. Using the following exercises will help you: Imagine your life and what it would look like on a day-to-day basis It may be painful, but write this down in lots of detail Figure out the smallest and easiest step you could make to go in this direction Try to move away from an ‘all-or-nothing' mindset, it's ok to only know the first step When you're battling depression, it may not be possible to get rid of every aspect making you feel this way, as genetic tendencies to low serotonin levels and other biological factors often play a part in depression. Breaking your cycle of isolation Your depression thrives when you're lonely and socially isolated. Reaching out to your loved ones and forming a solid support network is a powerful way to fight depression. Try and be with others Depressed thinking and the spiral of depressed behaviour can easily lead you to becoming increasingly socially withdrawn and isolated. It can be extremely difficult, but try your best not to fall into this spiral, by making sure you spend time with other people. As much as possible, keep this social contact as relaxed and low key as possible. Make as much out of opportunities for social contact as you can. Try hanging out in the kitchen with your flatmates, go to the SU bar or go to study groups after your lectures. You may not feel like doing this, but you should try making yourself go. Tell people how you're feeling Having someone around to keep you company and just listen to you is a lot easier than being isolated. If there are people who know how you're feeling, you won't have to keep up a false image of everything being okay. This in itself can help a lot. Good people to talk to include: Family- family members are good people to talk to as parents are always looking to have more contact. Friends- Whilst you'll need to be realistic in their power to change things, they can offer a lot of welcome support. Samaritans or your campus Nightline- These groups are completely confidential and anonymous. Members are trained to actively listen to you for as long as you need them to. Tutors- The vast majority of academic departments have systems for academic tutors to offer support. Professionals- If you are feeling low or have other symptoms of depression, counsellors, GPs and mental health services will be able to offer you qualified advice, as well as prescribe therapy and any suitable medication. If you have thought of self-harm or suicide, it's essential that you seek professional, medical advice from your doctor or a counsellor immediately. Taking care of yourself throughout depression When you're depressed, it's common to experience lethargy and neglect your basic self-caring tasks. An important step in managing your depression is to consciouslÐ ¸Ã ¼ y make the effort to take care of yourself. Make a checklist of basic self-care tasks- a basic checklist of things you need to do every day, such as getting up; showering, getting dressed and having breakfast will help you get out of bed. Remember that in the face of depressed lethargy, these are notable achievements in themselves. Look after your personal space- A good distraction technique is to slowly but surely tidy your room. Make it a comfortable, welcoming space with b right warm colours. Photos of family and friends will remind you of your support network, and include some photos of yourself having a good time. Get back into nature- You can find great ‘inner peace' by immersing yourself in the natural world. Whether it's watching a sunrise, listening to a babbling brook or lying in the grass, you will often feel a lot better for it. Even canal paths and urban parks can make all the difference. Find a new focus Any time you spend focusing on something or someone else, you have an amount of time where you can seek refuge from your depression. Purposeful distraction is a good way to resist negative introspection that often accompanies depression, and you can use anything from the simplest of distraction techniques to more meaningful ways to spend your time and energy. The key to purposeful distraction is to do a task without feeling motivated to do it and without the expectation to actively enjoy it. It should be something to simply fill your mind. Purposeful distractions can be anything, such as: Watching an entertaining TV programme Going shopping Playing a video game Cooking a meal You may want to channel your depression and feelings into an art project, such as music, writing or painting. Don't ask yourself whether or not it's ‘good'. just focus on the freedom or creation as a form of therapy. Resources Samaritans- You can phone and anonymously talk to someone for as long as you need to. Nightline Association-A confidential and anonymous student based active listening service. NHS GP online services- Online services, including registering with a local GP. NHS counselling services-Explains the role of counselling in the treatment of depression. National Suicide Prevention Lifeline-If you've had suicidal thoughts or are thinking about committing suicide, the NSPL can help you.