«Abstract This chapter on macro aspects of taxation begins with a discussion of the contribution of taxation to stabilization policies. The budget ...»
The macroeconomic aspects of taxation have evolved considerably over the past decades.This is linked to the changing ideas about the role of the government.
In a nutshell the dominating current views hold that the government should focus on longer-term goals and be very critical about short-term intervention.
Due to the difficulty in modifying tax instruments, this is especially true for taxation. This also holds for the process of shifting taxes through time by piling up debt. Such policies do, however, create uncertainty as to the type of taxes and time at which they will be collected. A modern view of the goals of government intervention will therefore be much less ambitious compared to thirty or forty years ago: the actions by the government should be as predictable as possible so as to reduce uncertainty and support the development of the private sector.
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