Podcast
Questions and Answers
Which canon of taxation emphasizes that taxes should be cheap to collect?
Which canon of taxation emphasizes that taxes should be cheap to collect?
- Equity
- Economy (correct)
- Convenience
- Certainty
What is the primary purpose of transfer payments?
What is the primary purpose of transfer payments?
- To support production and economic growth
- To compensate individuals for their services
- To provide financial assistance to individuals in need (correct)
- To incentivize entrepreneurship and innovation
Which of the following groups is an example of public sector workers?
Which of the following groups is an example of public sector workers?
- Nurses, teachers, and Gardaà (correct)
- Retail workers and salespeople
- Farmers and agricultural workers
- Business owners and entrepreneurs
According to the canon of certainty, what should taxpayers know?
According to the canon of certainty, what should taxpayers know?
What is the main goal of progressive taxation?
What is the main goal of progressive taxation?
What is the underlying principle behind progressive taxation?
What is the underlying principle behind progressive taxation?
What is the main consideration for the canon of convenience in taxation?
What is the main consideration for the canon of convenience in taxation?
What type of payments are social welfare payments, such as child benefit and jobseeker's allowance, classified as?
What type of payments are social welfare payments, such as child benefit and jobseeker's allowance, classified as?
What is the primary benefit of the canon of certainty in taxation?
What is the primary benefit of the canon of certainty in taxation?
What is the main category of public expenditure that includes the salaries of nurses, teachers, and GardaÃ?
What is the main category of public expenditure that includes the salaries of nurses, teachers, and GardaÃ?
Study Notes
Canons of Taxation
- Equity: Ensures fairness in taxation, where those who earn more pay more through progressive taxes
- Economy: Minimizes the cost of tax collection, ensuring it doesn't exceed the amount being collected
- Convenience: Ensures tax collection is easy and hassle-free for taxpayers to pay
- Certainty: Provides taxpayers with clear knowledge of their tax liability and stability in tax rates for at least 12 months
Government Expenditure
Current Expenditure
- Public Sector Pay: Compensates over 330,000 public sector workers, including nurses, teachers, and GardaÃ
- Social Welfare Pay: Involves transfer payments, where individuals receive payments without providing any factor of production, such as:
- Child benefit
- Jobseeker’s allowance
Canons of Taxation
- Equity: Ensures fairness in taxation, where those who earn more pay more through progressive taxes
- Economy: Minimizes the cost of tax collection, ensuring it doesn't exceed the amount being collected
- Convenience: Ensures tax collection is easy and hassle-free for taxpayers to pay
- Certainty: Provides taxpayers with clear knowledge of their tax liability and stability in tax rates for at least 12 months
Government Expenditure
Current Expenditure
- Public Sector Pay: Compensates over 330,000 public sector workers, including nurses, teachers, and GardaÃ
- Social Welfare Pay: Involves transfer payments, where individuals receive payments without providing any factor of production, such as:
- Child benefit
- Jobseeker’s allowance
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Description
This quiz covers the canons of taxation, including equity, economy, convenience, and certainty, as well as current expenditure, specifically public sector pay.
