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Do deficits matter? Yes and no, says Daniel Shaviro in this political and economic study. Yes, because fiscal policy affects generational distribution, national saving, and the level of government spending. And no, because the deficit is an inaccurate measure with little economic content. This book provides an invaluable guide for anyone wanting to know exactly what is at stake for Americans in this ongoing debate. "[An] excellent, comprehensive, and illuminating book. Its analysis, deftly integrating considerations of economics, law, politics, and philosophy, brings the issues of 'balanced budgets,' national saving, and intergenerational equity out of the area of religious crusades and into an arena of reason. . . . A magnificent, judicious, and balanced treatment. It should be read and studied not just by specialists in fiscal policy but by all those in the economic and political community."-Robert Eisner, Journal of Economic Literature "Shaviro's history, economics, and political analysis are right on the mark. For all readers."-Library Journal

336.121 <73> --- 336.1 <73> --- 336.2 (73) --- US / United States of America - USA - Verenigde Staten - Etats Unis --- 336.451 --- 336.61 --- 336.020 --- 336.401 --- Budget deficits --- -Government spending policy --- -Fiscal policy --- -339.5230973 --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Expenditures, Public --- Public spending policy --- Spending policy, Government --- Full employment policies --- Unfunded mandates --- Deficits, Budget --- Budget --- Deficit financing --- Nationaal budget. Rijksbegroting. Staatsbegroting. Begrotingspolitiek--Verenigde Staten van Amerika. VSA. USA --- Public finance, government finance in general--Verenigde Staten van Amerika. VSA. USA --- Belastingsakkoorden. Belastingswezen--Verenigde Staten van Amerika. VSA. USA --- Begrotingsjaren en begrotingsstaten. Rijksmiddelenbegroting. Begrotingstekort. --- Financieel beleid. --- Omvang, indeling en evolutie van de overheidsuitgaven: algemeenheden. --- Verband tussen begrotingspolitiek en economische evolutie. --- Government policy --- Fiscal policy --- Government spending policy --- 336.2 (73) Belastingen. Belastingswezen. Openbare financien. Belastingspolitiek. Belastingstheorie. Belastingsharmonisatie. Fiskale politiek. Belastingsleer. Belastingsdruk. Belastingstechniek. Belastingsstelsel.Belastingstarief--Verenigde Staten van Amerika. VSA. USA --- 336.2 (73) Belastingsakkoorden. Belastingswezen--Verenigde Staten van Amerika. VSA. USA --- Belastingen. Belastingswezen. Openbare financien. Belastingspolitiek. Belastingstheorie. Belastingsharmonisatie. Fiskale politiek. Belastingsleer. Belastingsdruk. Belastingstechniek. Belastingsstelsel.Belastingstarief--Verenigde Staten van Amerika. VSA. USA --- 336.1 <73> Public finance, government finance in general--Verenigde Staten van Amerika. VSA. USA --- 336.121 <73> Nationaal budget. Rijksbegroting. Staatsbegroting. Begrotingspolitiek--Verenigde Staten van Amerika. VSA. USA --- 339.5230973 --- Omvang, indeling en evolutie van de overheidsuitgaven: algemeenheden --- Verband tussen begrotingspolitiek en economische evolutie --- Begrotingsjaren en begrotingsstaten. Rijksmiddelenbegroting. Begrotingstekort --- Financieel beleid --- deficit, fiscal policy, economics, generational distribution, national saving, government spending, budget, debt, nonfiction, balanced budgets, intergenerational equity, law, politics, philosophy, tax lag, social security, legislation, interest rates, line-item veto, macroeconomics, political economy, finance, growth, prosperity, wealth.

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The United States is moving toward a possible catastrophic fiscal collapse. The country may not get there, but the risk is unmistakable and growing. The 'fiscal language' of taxes, spending, and deficits has played a huge and under appreciated role in the decisions that have pushed the nation in this dangerous direction. Part of the problem is that by focusing only on the current year, deficits permit politicians to ignore what is looming down the road. The bigger problem lies in the belief, shared by people on the left and the right alike, that 'tax cuts' and 'spending cuts' lead to smaller government, when in fact the characterization of any new policy as a change in 'taxes' or in 'spending' is purely a matter of labeling. This book proposes a better fiscal language for US budgetary policy, rooted in economic fundamentals such as wealth distribution and resource allocation in lieu of 'taxes' and 'spending'.

Fiscal policy --- Taxation --- Budget deficits --- Business, Economy and Management --- Economics

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Zonder onderwerpscode

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Income tax --- Law and legislation --- Cases.

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This paper aims to provide a swift tour of the economic issues presented by vouchers and thus to fill an apparent gap in the literature for a basic survey of the subject. Among the issues it considers are: factors determining a voucher's cash-equivalence; reasons (such as paternalism, externalities, and distribution) for giving beneficiaries non-cash-equivalent vouchers rather than cash; optimal tax issues involved in the design of vouchers and the choice between vouchers and other delivery mechanisms, including factors determining the optimal marginal reimbursement rate (MRR) in a voucher program, and the similarity between this question and that of determining optimal marginal tax rates (MTRs) under the income tax; the incentive effects of voucher eligibility criteria, such as income or asset tests; factors determining the allocative and price effects of vouchers, both in the short run when unexpectedly enacted and at equilibrium; and factors relevant to the choice between private and public supply that may often overlap with the decision whether to adopt a voucher program.