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Essay / Research Paper Abstract
This 4 paper assesses the budget of this fictitious city over a five year period, where the sales tax revenue is falling. The potential problems with the budget are identified and recommendations for a strategy to increase taxation revenue. The strategies discussed include the potential actions of increasing or decreasing tax rates. The bibliography cites 3 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEcitybud.doc
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Unformatted sample text from the term paper:
city. Between years 1 and 5 there has been a gradual but slow increase in the expenditure per household. The rise appears constrained and indicates that there has not been
any significant increases in expenditure, indeed, the rise appear to be lower than the likely level of inflation. However, there is a decrease in the overall tax revenues, and the
position at the beginning of the five year period where the books balanced moves into deficit in year 2, when revenue per household decreases. The pattern for the revenue per
household does show some years where there is improvement, but this is not sufficient to cover the current or the accumulated deficit. When looking at the underlying problem it
appears that there is a decline in the sales taxes. Assuming there has been no reduction in the taxation rates this will indicate declining sales volume. There are a number
of potential underlying reasons which may impact on this. It is possible that there has been a change in the demographic pattern with a higher level of low income moving
into the area, these households have a lower level of disposable income to spend on goods, resulting in lower sales tax revenue. This assertion may be supported by the proportion
of households that are except from tax due to low income levels, this has shown gradual increase. However, this is not the only potential cause of the decline. It is
possible that the city has entered a negative economic cycle, with an initial event or events resulting on an ongoing decline. For example, the initial decline in sales tax revenues
is seen in year two. If a city suffers a fall in the aggregate demand this may have a negative impact on the employment in the area; fewer employees will
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