The Capital/Labor Split
This chapter is about α, the share of income from capital in total national income. As a quick refresher, capital is an accumulated stock of wealth, while income is a flow of wealth. 655 more words
JDN 2456935 PDT 09:44.
Broadly speaking, there are three ways a tax system can be arranged: It can be flat, in which every person pays the same tax rate; it can be regressive, in which people with higher incomes pay lower rates; or it can be progressive, in which case people with higher incomes pay higher rates. 2,556 more words