|
Books > Business & Economics > Finance & accounting > Finance > Public finance > Taxation
Food, energy, and water are intrinsically connected through
economic and ecological linkages and dependent on limited resources
that are particularly threatened in developing countries by climate
change, economic and population growth. A nexus perspective that
simultaneously encompasses food, energy, and water has thus become
crucial to avoid inefficient resource use. This volume contributes
to the research on the food-energy-water nexus by first developing
three integrated modeling frameworks for ex-ante policy simulation
and then analyzing four policies in Malawi - biofuels production,
irrigation expansion, improved cookstoves and agroforestry. The
analyses show that the design of policies matters and that the
inclusion of smallholders generally maximizes synergies between
food, energy and water security. Integrated modeling frameworks are
vital for analyses of policies that simultaneously affect the
economic, social, and environmental spheres to quantify relevant
tradeoffs.
Shortly after speaking with a bullhorn amidst the still-smoking
wreckage at the World Trade Center site, President George W. Bush
urged Americans to 'get down to Disney World in Florida...take your
families and enjoy life, the way we want it to be enjoyed.'
Americans, he implied, should not merely offer sacrifices but
return to normalcy. Consistent with this anecdote, his
administration cut taxes, and held of efforts by a renegade group
of anti-war Congress members to introduce a 'share the sacrifice'
war tax for Iraq in 2007. According to the tax's opponents,
Americans were already being 'taxed to death.' The ultimate result
of all of this is that the government has financed the wars in Iraq
and Afghanistan entirely through borrowing. As Sarah Kreps shows in
Taxing Wars, the type of debt financing for war that we have seen
since 9/11 could not have been more different from earlier
experiences when wars meant taxation. For instance, in 1914-three
years before America's direct involvement in World War I-President
Wilson urged war taxes as a way to fund defense preparations.
Indeed, the Wilson Administration levied a series of war taxes
before, during, and after the war, amounting to about one-third of
the war's costs. Why, when Wilson was aiming to recruit rather than
repel support for the war, did he introduce measures such as a
hefty war tax that recent leaders have considered politically
toxic? Why was the public so magnanimous in its willingness to
contribute its own resources? By contrast, why did leaders not use
the crisis of war, often used as entrees for introducing war taxes
in the past, in the aftermath of 9/11 to extract resources from the
populace in a way that been customary in the past? More generally,
what explains shifting attitudes towards bearing the financial
burden of war and the move away from war taxes, and the
consequences of that shift? Kreps argues that the starkly different
approaches are the result of public attitudes towards wartime
fiscal sacrifice that vary depending on the underlying type of war
and state-society relations. The public accepted the sacrifices
that the state demanded during the two world wars, an effect of
both the nature of those wars and the public's more favorable views
toward government in that era. However, when these factors combine
to make the public cost sensitive, leaders have pursued forms of
war finance that anticipate opposition and minimize constraints on
the way they use force. In post-1945 wars, the public has become
almost uniformly unforgiving of fiscal sacrifice, which explains
leaders' increased tendency to rely on less visible forms of
finance such as borrowing. The lack of visibility has had an
important knock-on effect too: Leaders have been able to
increasingly operate without the type of decision-making
constraints that were present in earlier war efforts which depended
upon broader levels of public support. Her ultimate conclusion is
both sobering and extremely important: the deterioration of
decision-making accountability with regard to war in the second
half of the twentieth century has allowed leaders to wage
increasingly costly and protracted wars. And because the health of
a democracy can be measured by how responsive leaders are to an
informed and attentive public in times of war, our current
practices suggest that we are edging ever closer to how
non-democracies conduct war.
"Institutional Foundations of Public Finance" integrates
economic and legal perspectives on taxation and fiscal policy,
offering a provocative assessment of the most important issues in
public finance today.
Part I, an in-depth look at the tax reform debate, examines the
differences between an income and a consumption tax and poses
significant questions about the systematic transition from one to
the other, as well as about its implementation. Part II takes a
focused look at a broad range of fiscal topics, including fiscal
federalism, corporate finance, and fiscal language. As a whole, the
volume reflects a keen interest in analyzing real-world problems,
including fiscal regimes and institutions, that have major policy
implications.
A sophisticated and accessible application of the newest
theoretical work in public-policy history and legal studies, this
book is a detailed account of how a permanent income tax was
enacted into law in the United States. The tax originated as an
apology for the aggressive manipulation of other forms of taxation,
especially the tariff, during the Civil War. Levied with very low
rates on a small proportion of the population and raising little
revenue, the early tax was designed to preserve imbalances in the
structure of wealth and opportunity, rather than to ameliorate or
abolish them, by strengthening the status quo against fundamental
attacks by the political left and right. This book shows that the
early course of income taxation was more clearly the product of
centrist ideological agreement, despite occasional divergences,
than of "conservative-liberal" allocative conflict.
|
|