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@ jo smith 🇺🇸
2025-05-09 00:42:49
WEALTH OF NATIONS 1776 – MASTERPIECE
Adam Smith’s canon of taxation that is still influential today:
EQUITY – CERTAINTY – CONVENIENCE – ECONOMY
EQUITY: ability to pay ( fair / progressive taxation )
CERTAINTY: how much and when ( without fear or unexpected influence )
CONVENIENCE: easy payment ( 1 fiscal year / firms pay for employees )
ECONOMY: ( covers many factors )
low impact on economic activity
low temptation to evade taxes
minimal intrusion into people’s lives