Ideal Income Formula

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Tax systems raise large amounts of revenue for funding public sector's activities, and tax/transfer policy, together with public provision of education, health care, and social services, play a crucial role in treating the symptoms and the causes of poverty. The normative analysis is crucial for tax/transfer design because it makes it possible to assess separately how changes in the redistributive criterion of the government, and changes in the size of the behavioural responses to taxes and transfers, affect the optimal tax/transfer system. Optimal tax theory provides a way of thinking rigorously about these trade-offs. Written primarily for graduate students and researchers, this volume is intended as a textbook and research monograph, connecting optimal tax theory to tax policy. It comments on some policy recommendations of the Mirrlees Review, and builds on the authors work on public economics, optimal tax theory, behavioural public economics, and income inequality. The book explains in depth the Mirrlees model and presents various extensions of it. The first set of extensions considers changing the preferences for consumption and work: behavioural-economic modifications (such as positional externalities, prospect theory, paternalism, myopic behaviour and habit formation) but also heterogeneous work preferences (besides differences in earnings ability). The second set of modifications concerns the objective of the government. The book explains the differences in optimal redistributive tax systems when governments - instead of maximising social welfare - minimise poverty or maximise social welfare based on rank order or charitable conservatism social welfare functions. The third set of extensions considers extending the Mirrlees income tax framework to allow for differential commodity taxes, capital income taxation, public goods provision, public provision of private goods, and taxation commodities that generate externalities. The fourth set of extensions considers incorporating a number of important real-word extensions such as tagging of tax schedules to certain groups of tax payers. In all extensions, the book illustrates the main mechanisms using advanced numerical simulations.

The benchmark optimal income taxation model of Mirrlees (1971) finds that the optimal marginal income tax rate (MIT) is always non-negative. A key model assumption is the coincidence between social and individual work preferences. This paper extends the model to allow for differences in social and individual work preferences. The theoretical and simulation analyses show that under this model, when the government places a higher social weight on work than individuals, the optimal MIT schedule is shifted downwards, introducing the possibility for optimal wage subsidies at the bottom of the income distribution. This implies lower revenues, demogrants, and overall progressivity.

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What does it take to...Start a successful business while you're still working in a job?Believe in yourself enough to walk away from that job?Build your "side business" into a freedom-based lifestyle, so you can be, do, and have all that you were meant to?In The Income Replacement Formula, author Christine McAlister shares the simple 7-step formula that helped her overcome her own personal tragedy, and then realize her dreams of discovering and building a business around her unique gifts. This is the same formula she uses with her high-level clients every day, to help them live their own dreams of freedom and fulfillment.If you're a woman who has been thinking about quitting your job or starting a business since... what feels like forever... or you already have a business that's just not working the way you wish it would... this is your book. ========Christine has beautifully crafted a framework that supports, inspires, and pushes other women to stop staying stuck and start creating the life with passion they are meant for. As someone who left my 9-5 and runs a business that I love full time, I know there is no greater gift you can give yourself. I love that Christine has created a manual that not only helps other women believe they can do it but also gives them the specific, actionable steps with which to make the leap. If you're ready to leave that 9-5 and replace your income for good... look no further. --Lacey Sites, Business Mentor & Success Coach, Founder of A Lit Up LifePerhaps the number one question I get asked as a mindset and marketing expert, is "How do I quit my day job?" How convenient is it that I'll now be able to refer people to The Income Replacement Formula? Christine has pulled together the complete blueprint for leaving your job and working full-time as an entrepreneur -- a blueprint that includes BOTH mindset and action. Christine is not only passionate, she's also knowledgeable, and in this book, she gives you the roadmap to a freedom that can only come from being in business for yourself. If you're ready to leave the workforce and join the ranks of profitable business owners, then start here. Christine is the mentor that you need on your side." -- Dana Wilde, Bestselling Author of Train Your Brain and Host of The Mind Aware ShowChristine breaks down the exact steps necessary to leave your 9-5 and start living life on your terms in the simplest and easiest-to-digest ways. She is a true master at her craft of helping women create the business of their dreams. As someone who knows all too well what the journey of breaking free from the chains of a 9-5 looks like, I so wish I'd had this book years ago when I was struggling and stuck. I know it would have simplified the process and I'm so glad to have this guide to recommend to my friends and colleagues going through this journey now.--Sara Wiles, Online Business Manager, Co-Founder of The Happy Thoughts ShowThe Income Replacement Formula reveals the key requirements to successfully start AND monetize your online business. Christine lays out all of the strategic pieces with her unique feminine voice that is refreshing and inspiring. She combines the stories of her real-life experiences and her clients' experiences to reveal the truth that it's not always polished and pretty, yet, with focus, determination, strategy, proper leadership, AND mindset you can step away from your 9-5 confidently while earning a living from your passion!--Celia Faye Meisel, Online Business Coach for Creatives, Leaders, and Spiritual Entrepreneurs

What is Rahn Curve The Rahn curve is a graph used to illustrate an economic theory, proposed in 1996 by American economist Richard W. Rahn, which suggests that there is a level of government spending that maximizes economic growth. The theory is used by classical liberals to argue for a decrease in overall government spending and taxation. The inverted-U-shaped curve suggests that the optimal level of government spending is 15-25% of GDP. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Rahn curve Chapter 2: Keynesian economics Chapter 3: Microeconomics Chapter 4: Macroeconomics Chapter 5: Neoclassical economics Chapter 6: Tax Chapter 7: IS-LM model Chapter 8: Satisficing Chapter 9: Fiscal policy Chapter 10: Robert Solow Chapter 11: Welfare economics Chapter 12: Tax cut Chapter 13: Allocative efficiency Chapter 14: Optimal foraging theory Chapter 15: Optimum currency area Chapter 16: Neoclassical synthesis Chapter 17: Richard W. Rahn Chapter 18: Laffer curve Chapter 19: Flypaper effect Chapter 20: Economics of science Chapter 21: Optimal labor income taxation (II) Answering the public top questions about rahn curve. (III) Real world examples for the usage of rahn curve in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Rahn Curve.