1 / 6

Public Finance: Overview

Public Finance: Overview. Some key questions: Responsibilities/functions Funding types/sources Revenues (income increasing net worth) Borrowing Key principles Allocation of responsibilities/functions/funding sources among governments Expenditures. Revenue Sources. Income tax Sales tax

niveditha
Télécharger la présentation

Public Finance: Overview

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Public Finance: Overview • Some key questions: • Responsibilities/functions • Funding types/sources • Revenues (income increasing net worth) • Borrowing • Key principles • Allocation of responsibilities/functions/funding sources among governments • Expenditures

  2. Revenue Sources • Income tax • Sales tax • Property tax • Wealth transfer (land, estates, gifts) • Business/privilege (franchise) • Special assessments (local; earmarked?) • Fees • User charges • Other (lottery?)

  3. Borrowing • General obligation bonds (full faith and credit to be paid from taxes) • Revenue bonds (revenue stream dedicated) • More esoteric (tax increment financing/Amendment 1)

  4. Key principles • Ability to pay? • Benefit tied to payment? • Allocation of resources with responsibilities? • Efficiency in collection and disbursement? • Accountability? • Equalization for fundamental needs?

  5. Allocation Among Governments • Federal • income tax, gas tax, estate/gift tax; capital gains; luxury… • State: • income tax; corporate tax; intangibles (stocks/bonds) (shared); excise tax on beer/wine (shared); street aid (shared); franchise tax (public utilities) (shared); excise tax on conveyances (shared); sales (part); federal funds (Medicaid) (part: 70% fed, 20% state/equalized, 10% county); health (part); schools (part) • Local: • See above; property; portion of sales/use; privilege license; franchise; animal tax; 911 charges; occupancy taxes; land transfers; special assessments; user charges; ABC revenues; regulatory fees

  6. Constitutional Constraints: Federal • Due Process (Pittsburgh v. Alco Parking) • Due process generally: ends, means, arbitrary? • Any special cases? • Effect on substantive constitutional rights? • Exercise of forbidden power/taking? • Tax as mask for regulation? Single/small class? Poor fit? • Equal protection (Nordlinger) (Proposition XIII) • Acquisition value taxation • Equal protection basics: classification? Relationship to legitimate ends? Presumption of constitutionality?

More Related