Overview

sacrifice


Show Summary Details

Quick Reference

Loss of welfare as a result of paying a tax. One of the principles of taxation is that a tax should be formulated so that it involves equality of sacrifice on the part of the taxpayers. It is assumed that taxpayers with equal incomes will sacrifice equal amounts of welfare by paying identical taxes.

Subjects: Financial Institutions and Services.


Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.