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December 16, 2018 

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TAX PROPORTIONALITY: The proportion of income paid in taxes at different levels of income. In some taxes the proportion of income paid in taxes increases with income in other cases it decreases. And in still other cases, it remains the same. The three basic types of taxes are proportional taxes, progressive taxes, and regressive taxes. Because almost everyone would like to pay fewer taxes (and presumably have others pay more), tax proportionality is a the center of political controversy. Higher incomes prefer regressive taxes and lower incomes prefer regressive taxes.

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PERSONAL TAX AND NONTAX PAYMENTS:

The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring the personal income taxes paid to the government sector on personal income received by the household sector. Personal tax and nontax payments are subtracted from personal income (PI) to calculate disposable income (DI). Personal tax and nontax payments are about 15 percent of personal income and about 13 percent of gross domestic product.
The primary taxes included in personal tax and nontax payments are the personal income taxes (the ones due on April 15th) that are paid to the three levels of government--federal, state, and local. Another major component is property taxes paid to state and local governments. It also includes assorted, and minor, nontax fees and charges, such as fishing licenses and national park entrance fees.

Taxes excluded from this item might be as important as those included. Personal tax and nontax payments do NOT include Social Security taxes or sales taxes. Both of these enter into the National Income and Product Accounts in other places.

The derivation of disposable income (DI) from personal income (PI) by subtracting personal tax and nontax payments (PT) is illustrated by this equation:

DI=PI - PT

<= PERSONAL INCOME AND NATIONAL INCOMEPERSONAL TAXES =>


Recommended Citation:

PERSONAL TAX AND NONTAX PAYMENTS, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: December 16, 2018].


Check Out These Related Terms...

     | personal taxes | disposable income and personal income | gross domestic income | factor payments | transfer payments | income earned but not received | income received but not earned | corporate profits distribution |


Or For A Little Background...

     | disposable income | personal income | gross domestic product | gross domestic product, income | production | resource markets | National Income and Product Accounts | Bureau of Economic Analysis | National Bureau of Economic Research |


And For Further Study...

     | business cycles | circular flow | gross domestic product, expenditures | gross domestic product, ins and outs | gross domestic product, welfare | national income | net domestic product | gross national product | real gross domestic product | national income and gross domestic product | national income and net domestic product | personal income and national income | inflation | unemployment |


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     | Bureau of Economic Analysis |


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