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Sustainable Tax Presentation. Conor Meany: 09005180 Daniel O’Dwyer : 09004804 Jamie Molony : 09006710. The Question. Imagine a world twenty and fifty years hence, as per your knowledge. How you could most equitably/sustainably/easily collect taxes in that world?.
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Sustainable Tax Presentation Conor Meany: 09005180 Daniel O’Dwyer: 09004804 Jamie Molony: 09006710
The Question • Imagine a world twenty and fifty years hence, as per your knowledge. How you could most equitably/sustainably/easily collect taxes in that world?
Implement a progressive direct tax system • The progressive tax system will ensure those who are able to pay taxes contribute more, and those who earn less pay less in tax proportionately. This will be the equitable factor of our system. • The reason for using a direct tax system is that one can predict accurately the amount to be collected as a sum will be deducted from worker`s gross salary. This will aid a more effective budget plan so the country as a whole will operate more efficiently.
Congestion Charges • Introduce congestion charges for all petrol and diesel cars in all major towns and cities. This will encourage public transport which will reduce the total number of road users making streets less congested and safer for residents. Also it will act as an incentive to use electric or hybrid engined vehicles. This shall greatly reduce the overall pollution in our towns and cities and also provide added income for the government to improve our public transport system.
25 years from now High carbon emission tax will encourage and make it more feasible to buy newer more modern vehicles that will be more economical and therefore more environmentally friendly
Tax Incentives • Give better tax incentives to people who are interested in buying electric cars to encourage them to spend that bit more on an electric vehicle.
Tobacco • A very high tax should be placed upon tobacco, in an attempt to decrease smoking and consequently reduce lung cancer, also due to this there will be higher security within the coast guard system so as to discourage smuggling of tobacco in the future. We can provide training initiatives that will re-train the unemployed as a result of the closure of tobacco factories. Therefore we can ensure social welfare payments do not increase and the economy as a whole does not slow down.
40 years from now Corporation tax should be increased to 14% so as to insure all foreign companies contribute their fair share to the economy
