Related topics: carbon emissions

Green energy nudges come with a hidden cost

All across the United States, many households receive energy bills comparing their use to that of similar neighbors to remind them to use less energy. At most companies, employees are automatically enrolled in 401(k) plans ...

How carbon taxes can succeed

The political leeway for carbon taxes is greater than commonly assumed. Political scientists at ETH have shown how carbon taxes could find acceptance in Germany and the U.S.. What matters most is the intended use of the tax ...

Mathematical model provides new support for environmental taxes

A new mathematical model provides support for environmental taxation, such as carbon taxes, as an effective strategy to promote environmentally friendly practices without slowing economic growth. Xinghua Fan and colleagues ...

How much would you pay to change a game before playing it?

When most people think of a "game," they might imagine checkers or hopscotch. But in game theory, a game is defined as any type of scenario where there's an interaction between different decision-makers, or players, each ...

High Court: Online shoppers can be forced to pay sales tax

States will be able to force more people to pay sales tax when they make online purchases under a Supreme Court decision Thursday that will leave shoppers with lighter wallets but is a big financial win for states.

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Tax

To tax (from the latin taxare: to estimate, which in turn is from tangere: to touch) is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state.

Taxes are also imposed by many subnational entities. Taxes consist of direct tax or indirect tax, and may be paid in money or as its labour equivalent (often but not always unpaid). A tax may be defined as a "pecuniary burden laid upon individuals or property to support the government […] a payment exacted by legislative authority." A tax "is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority" and is "any contribution imposed by government […] whether under the name of toll, tribute, tallage, gabel, impost, duty, custom, excise, subsidy, aid, supply, or other name."

In modern taxation systems, taxes are levied in money, but in-kind and corvée taxation are characteristic of traditional or pre-capitalist states and their functional equivalents. The method of taxation and the government expenditure of taxes raised is often highly debated in politics and economics. Tax collection is performed by a government agency such as Canada Revenue Agency, the Internal Revenue Service (IRS) in the United States, or Her Majesty's Revenue and Customs (HMRC) in the UK. When taxes are not fully paid, civil penalties (such as fines or forfeiture) or criminal penalties (such as incarceration) may be imposed on the non-paying entity or individual.

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