Taxation is not only taxing; it is also vexing.

A few decades back, the doyen of public finance issued the following observation cum warning:

Fiscal policy, on both its tax and expenditure sides, should be among the most controversial of policy issues.  The fis­cal process…occupies the middle ground between anarchy and absolute rule.  It provides the forum on which interest groups and ideologies may clash…and on which compromise and cooperation may be sought.  The budget process can hardly be expected to function without error if only because it is cre­ated by the same conflicting interests which it must reconcile (Musgrave 1981).

For the complete post, please click on the link below:

Taxing your sins

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