10 TermsHome > Terms > Armenian (HY) > միանվագ հարկ
միանվագ հարկ
A tax that is the same amount for everybody, regardless of income or wealth. Some economists argue that this is the most efficient form of taxation, as it does not distort incentives and thus it has no deadweight cost. This is because each person knows that whatever they do they will have to pay the same amount. It is also cheap to administer, as there is no complex process of measuring each person’s income and assets in order to calculate their tax bill. However, because rich and poor people pay the same, the tax may be perceived as unfair – as Margaret Thatcher found out when she introduced a lump-sum “poll tax”, a decision that was later to play a large part in her ousting as British prime minister.
0
0
Improve it
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: Economics
- Company: The Economist
- Product:
- Acronym-Abbreviation:
Other Languages:
Member comments
Terms in the News
Featured Terms
Contributor
Featured blossaries
Sanket0510
0
Terms
22
Blossaries
25
Followers
Trends Retailers Can't Ignore in 2015
Category: Business 1 8 Terms
8 TermsBrowers Terms By Category
- Clock(712)
- Calendar(26)
Chronometry(738) Terms
- Material physics(1710)
- Metallurgy(891)
- Corrosion engineering(646)
- Magnetics(82)
- Impact testing(1)
Materials science(3330) Terms
- Inorganic pigments(45)
- Inorganic salts(2)
- Phosphates(1)
- Oxides(1)
- Inorganic acids(1)
Inorganic chemicals(50) Terms
- Software engineering(1411)
- Productivity software(925)
- Unicode standard(481)
- Workstations(445)
- Computer hardware(191)
- Desktop PC(183)
Computer(4168) Terms
- Zoological terms(611)
- Animal verbs(25)