What is the Principle of Equal Marginal Sacrifice according to HL Ahuja in economics?
What is the Principle of Equal Marginal Sacrifice according to HL Ahuja in economics?
Homework Answers
Under this concept, tax burdens should be distributed between the different persons so that there should be the same marginal sacrifice of utility for the cach person who pays the tax.
This technique helps to eliminate the aggregate sacrifice of the company in its entirety. If all taxpayers pay so much tax that their marginal sacrifice of utility is unchanged, society's loss of full utility is negligible.
Therefore, this theory addresses the problem of separating the tax burden from the welfare of society as a whole.
It implies very high rates of marginal taxes so that it falls within a marginal income value. In addition, this theory can be used to strongly advocate the 100 percent tax rate for those with the highest incomes in society.
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What is the Principle of Equal Marginal Sacrifice according to
HL Ahuja in economics?
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