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#1
To what extent would a combination of a land tax and increasing the rate of inheritance tax create a more effective tax system than what exists at present?
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pliticshub
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#2
Got an A* this year in economics a2 so here is how I would start
First of all you need to in your introduction define different ways of what would make it a more ‘effective’ tax system - More tax money to improve welfare of society ? And compare with evidence the tax system currently and what this tax system is trying to achieve ? Tax is usually used as fiscal policy so influencing mainly demand but supply also
1 - land tax
What type of land tax and how much ? You could bring in the tax on certain properties such as the stamp duty one - can create a trickle down effect on the poor - be used to create a more diverse society and boost welfare eg progressie tax has seen our gini co efficient at 0.3 from 0.34
2 - inheritance tax
Roughly 45% now you could say that this tax can be used to make a more advanced economy in terms of welfare etc by paying out more on social welfare such as NHS which is roughly 80 billion now - then analyse further saying this could then created a more healthy workforce which can improve skills as output of economy but don’t go further otherwise waffling
EVALUATE
However cons or depends on the effectiveness of the tax such as the amount of tax posed may not have an effect on demand or supply.
Elasticity of demand on these taxes ?
Counter arguments
-
- inheritance tax could create brain drain for richer citizens to move abroad so loss of even more tax than before then develop point further
- same with land tax as well but can also stop people from buying houses, can affect property values which can burden society even more and demand for housing market will fall - develop further causes and examples
- another con could be that the effectiveness of the tax may not actually e effective based on the changing rate of tax Eg higher interest rates from nocedmber 2017 didn’t see a change in demand for houses
- inequality is still high in UK compare to Norway at roughly 0.1 so maybe a different way than tax could be used such as progressive taxation can incresse like in Norway with one of the highest tax rates etc
- depends on the change in tax and elasticity of demand
Diagrams can be demand and supply but I would also put in Gino co efficient too
First of all you need to in your introduction define different ways of what would make it a more ‘effective’ tax system - More tax money to improve welfare of society ? And compare with evidence the tax system currently and what this tax system is trying to achieve ? Tax is usually used as fiscal policy so influencing mainly demand but supply also
1 - land tax
What type of land tax and how much ? You could bring in the tax on certain properties such as the stamp duty one - can create a trickle down effect on the poor - be used to create a more diverse society and boost welfare eg progressie tax has seen our gini co efficient at 0.3 from 0.34
2 - inheritance tax
Roughly 45% now you could say that this tax can be used to make a more advanced economy in terms of welfare etc by paying out more on social welfare such as NHS which is roughly 80 billion now - then analyse further saying this could then created a more healthy workforce which can improve skills as output of economy but don’t go further otherwise waffling
EVALUATE
However cons or depends on the effectiveness of the tax such as the amount of tax posed may not have an effect on demand or supply.
Elasticity of demand on these taxes ?
Counter arguments
-
- inheritance tax could create brain drain for richer citizens to move abroad so loss of even more tax than before then develop point further
- same with land tax as well but can also stop people from buying houses, can affect property values which can burden society even more and demand for housing market will fall - develop further causes and examples
- another con could be that the effectiveness of the tax may not actually e effective based on the changing rate of tax Eg higher interest rates from nocedmber 2017 didn’t see a change in demand for houses
- inequality is still high in UK compare to Norway at roughly 0.1 so maybe a different way than tax could be used such as progressive taxation can incresse like in Norway with one of the highest tax rates etc
- depends on the change in tax and elasticity of demand
Diagrams can be demand and supply but I would also put in Gino co efficient too
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username4167060
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#3
(Original post by pliticshub)
Got an A* this year in economics a2 so here is how I would start
First of all you need to in your introduction define different ways of what would make it a more ‘effective’ tax system - More tax money to improve welfare of society ? And compare with evidence the tax system currently and what this tax system is trying to achieve ? Tax is usually used as fiscal policy so influencing mainly demand but supply also
1 - land tax
What type of land tax and how much ? You could bring in the tax on certain properties such as the stamp duty one - can create a trickle down effect on the poor - be used to create a more diverse society and boost welfare eg progressie tax has seen our gini co efficient at 0.3 from 0.34
2 - inheritance tax
Roughly 45% now you could say that this tax can be used to make a more advanced economy in terms of welfare etc by paying out more on social welfare such as NHS which is roughly 80 billion now - then analyse further saying this could then created a more healthy workforce which can improve skills as output of economy but don’t go further otherwise waffling
EVALUATE
However cons or depends on the effectiveness of the tax such as the amount of tax posed may not have an effect on demand or supply.
Elasticity of demand on these taxes ?
Counter arguments
-
- inheritance tax could create brain drain for richer citizens to move abroad so loss of even more tax than before then develop point further
- same with land tax as well but can also stop people from buying houses, can affect property values which can burden society even more and demand for housing market will fall - develop further causes and examples
- another con could be that the effectiveness of the tax may not actually e effective based on the changing rate of tax Eg higher interest rates from nocedmber 2017 didn’t see a change in demand for houses
- inequality is still high in UK compare to Norway at roughly 0.1 so maybe a different way than tax could be used such as progressive taxation can incresse like in Norway with one of the highest tax rates etc
- depends on the change in tax and elasticity of demand
Diagrams can be demand and supply but I would also put in Gino co efficient too
Got an A* this year in economics a2 so here is how I would start
First of all you need to in your introduction define different ways of what would make it a more ‘effective’ tax system - More tax money to improve welfare of society ? And compare with evidence the tax system currently and what this tax system is trying to achieve ? Tax is usually used as fiscal policy so influencing mainly demand but supply also
1 - land tax
What type of land tax and how much ? You could bring in the tax on certain properties such as the stamp duty one - can create a trickle down effect on the poor - be used to create a more diverse society and boost welfare eg progressie tax has seen our gini co efficient at 0.3 from 0.34
2 - inheritance tax
Roughly 45% now you could say that this tax can be used to make a more advanced economy in terms of welfare etc by paying out more on social welfare such as NHS which is roughly 80 billion now - then analyse further saying this could then created a more healthy workforce which can improve skills as output of economy but don’t go further otherwise waffling
EVALUATE
However cons or depends on the effectiveness of the tax such as the amount of tax posed may not have an effect on demand or supply.
Elasticity of demand on these taxes ?
Counter arguments
-
- inheritance tax could create brain drain for richer citizens to move abroad so loss of even more tax than before then develop point further
- same with land tax as well but can also stop people from buying houses, can affect property values which can burden society even more and demand for housing market will fall - develop further causes and examples
- another con could be that the effectiveness of the tax may not actually e effective based on the changing rate of tax Eg higher interest rates from nocedmber 2017 didn’t see a change in demand for houses
- inequality is still high in UK compare to Norway at roughly 0.1 so maybe a different way than tax could be used such as progressive taxation can incresse like in Norway with one of the highest tax rates etc
- depends on the change in tax and elasticity of demand
Diagrams can be demand and supply but I would also put in Gino co efficient too
On a side note, what did you do to achieve A*? Did you do loads of wider reading? Purchased tutor2u items? Made a journal of current events? I would really appreciate your answer
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pliticshub
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#4
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#4
There’s no point reading an article a day because you forget it ! Do EVERY essay question and I split them into different topics and looked up examples current that would be the best for this essay questions. Tutor2u is amazing especially there sample answer essay question booklets where examiners have written the perfect essay answers 
for multiple choice I just practiced and practiced but wrote down what the answers were for certain MCQs in a notepad to see that what they’re trying to test you on so you get the hang of it. Also practice on doing time tests
because you need to start getting in the rhythm as that’s what the thing what gets everyone
Also Econdahl o YouTube explains things amazing ! And has the structure for paper 3 pretty much nailed
for multiple choice I just practiced and practiced but wrote down what the answers were for certain MCQs in a notepad to see that what they’re trying to test you on so you get the hang of it. Also practice on doing time tests because you need to start getting in the rhythm as that’s what the thing what gets everyone
Also Econdahl o YouTube explains things amazing ! And has the structure for paper 3 pretty much nailed
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