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Article
Publication date: 1 June 2012

Javier Portillo and Walter E. Block

The purpose of this paper is to criticize the current US tax system and explain in what ways taxation harms the economy. Taxes are coercive. Taxpayers are forced to pay…

Abstract

Purpose

The purpose of this paper is to criticize the current US tax system and explain in what ways taxation harms the economy. Taxes are coercive. Taxpayers are forced to pay individual income taxes. If the taxpayer refuses, several adverse consequences will unfold against him even including jail‐time. Taxes diminish taxpayer's disposable income and leave consumer's wants unattended. The money they could have used to fulfil their wants goes instead to the government in the form of taxes.

Design/methodology/approach

Taxation is analyzed from an economic point of view.

Findings

Progressive taxation is harmful to the economy because it punishes successful individuals. The more they earn (a reflection of the productive value they bring to the market), the more they have to pay. Meanwhile less productive citizens paying little or no tax are receiving “benefits” derived from the investment of more successful taxpayers. These are inefficient since they reduce incentives. Taking money from Peter and giving it to Paul decreases the incentive, both have to earn an income and be productive. Finally, the paper exposes the influence government has over taxpayer's decisions.

Originality/value

We live at a time in the US when President Obama is calling for greater taxation for the rich, and the Republicans are rejecting this initiative on the ground that it is “class war.” A study of taxation at this point cannot help but shed light on this controversy.

Details

Studies in Economics and Finance, vol. 29 no. 2
Type: Research Article
ISSN: 1086-7376

Keywords

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Book part
Publication date: 3 June 2020

Anel Flores-Novelo, Ana Laura Bojórquez Carrillo and María Cristina Mata Castro

This chapter is about an analysis and reflection on the actions, programs, and regulatory frameworks of the Mexican government for the promotion of entrepreneurial…

Abstract

This chapter is about an analysis and reflection on the actions, programs, and regulatory frameworks of the Mexican government for the promotion of entrepreneurial activity during the twentieth century. A documentary review is presented based mainly on the presidential reports available in the virtual legal library of the National Autonomous University of Mexico, the Center for Documentation, Information, and Analysis of the Chamber of Deputies (Cámara de Diputados), and various publications of experts on economic history, considering the twentieth century: from the year 1900 with the end of the Porfiriato until the six-year term of Ernesto Zedillo that ended in 2000. The public policies of these 100 years were reviewed and based on this, was analyzed the importance assigned to the creation, development, and consolidation of companies and their importance in public policies. Special emphasis is given to instruments for the creation of new businesses or the development and strengthening of small- and medium-sized enterprises.

Abstract

Details

World Journal of Science, Technology and Sustainable Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2042-5945

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Article
Publication date: 29 August 2019

Javier Andrades, Domingo Martinez-Martinez, Manuel Larran and Jesus Herrera

The purpose of this paper is to examine the amount of online information reported by Spanish municipal-owned enterprises (MOEs) according to the legal requirements…

Abstract

Purpose

The purpose of this paper is to examine the amount of online information reported by Spanish municipal-owned enterprises (MOEs) according to the legal requirements indicated in the Spanish Law 19/2013 on Transparency and Good Governance. In addition, the authors analyze how different variables can affect the extent of online information reported by such enterprises.

Design/methodology/approach

To do this, we conducted a content analysis of the web pages of Spanish MOEs located in cities with more than 100.000 habitants, as well as those cities that are provincial capitals. To find information about these enterprises, the authors accessed the General Intervention Board of the State Administration (IGAE) webpage (www.igae.pap.minhafp.gob.es/sitios/igae/es-ES/Paginas/inicio.aspx). This sample was composed of 273 enterprises majority owned and controlled by local governments.

Findings

The findings reveal that the amount of information reported by Spanish MOEs, in accordance with the legal requirements, is quite reduced. The most influential variables for explaining Spanish MOEs’ commitment to information disclosure are population size, political positioning of the local government and reputation.

Originality/value

This study seeks to contribute to the scarce literature on mandatory transparency in the public sector as well as to reinforce the degree of compliance with requirements of information disclosure.

Details

Online Information Review, vol. 43 no. 5
Type: Research Article
ISSN: 1468-4527

Keywords

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Article
Publication date: 12 March 2019

Juan David Gonzalez-Ruiz, Alejandro Arboleda, Sergio Botero and Javier Rojo

The purpose of this paper is to develop an investment valuation model using the mezzanine debt mechanism based on blue bonds that explicitly allude to public–private…

Abstract

Purpose

The purpose of this paper is to develop an investment valuation model using the mezzanine debt mechanism based on blue bonds that explicitly allude to public–private partnerships (P3s) and project finance (PF). Additionally, this study proposes the financial captured value (FCV) theory for measuring how much financial value lenders may capture by becoming sponsors through financing of sustainable infrastructure systems (SIS).

Design/methodology/approach

The investment valuation model was validated through the Aguas Claras wastewater treatment plant as a case study.

Findings

The empirical results show that lenders may capture financial value by converting outstanding debt into equity shares throughout the operation and maintenance stage. Furthermore, case study results provide new insights into the implications of the debt–equity conversion ratio on the relationship between the sponsors’ internal rate of return and the FCV.

Research limitations/implications

The most significant limitation is the lack of primary and secondary information on blue bonds. Thus, robust statistical analyses to contrast results were not possible.

Practical implications

Researchers and practising professionals can improve their understanding of how mezzanine debt, P3s and PF into an investment valuation model allows financing SIS using a non-conventional financial mechanism. The recommendations will benefit both the academia as well infrastructure industry in bridging the gap between design theory and practice.

Originality/value

Sustainability components have not been addressed explicitly or combined in the financing’s structuring. Therefore, the investment valuation model could be considered a novel methodology for decision making related to financing and investment of SIS.

Details

Engineering, Construction and Architectural Management, vol. 26 no. 5
Type: Research Article
ISSN: 0969-9988

Keywords

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Article
Publication date: 1 January 2013

Javier Pereda and Juan Dixon

The aim of this paper is to improve and adapt cascaded multilevel converters for electric vehicles (EVs) to have all the advantages of these converters and to eliminate…

Abstract

Purpose

The aim of this paper is to improve and adapt cascaded multilevel converters for electric vehicles (EVs) to have all the advantages of these converters and to eliminate its limitation in the use of EVs applications. Specifically, the purpose is to use only a single power source (battery pack, fuel cell, etc.) and to generate a higher power‐quality than regular multilevel converters.

Design/methodology/approach

This paper is based in a cascaded multilevel converter conformed by two 3‐level inverters connected in series. The voltage sources of the auxiliary inverter were replaced by floating capacitors which work as active filters, reducing the power sources to one. The floating capacitor voltages were controlled by a PI controller that adjusts the modulation index (m) to obtain a zero average power in the auxiliary inverters, and a predictive control selects the optimal redundant state to reduce the error and balance all the capacitor voltages. As the modulation index is determined by the PI controller, the output voltage magnitude must be controlled by a variable voltage source (e.g. buck‐boost chopper). Additionally, the converter works with new optimal voltage asymmetries to obtain higher power quality and capacitor control stability.

Findings

The proposed converter uses a topology that conventionally generates 9‐levels of voltage, but with the proposed asymmetry is as generate 11‐levels. Also, the auxiliary power sources were eliminated.

Research limitations/implications

The proposed solution has a limited dynamic response due to the variation rate of the capacitor voltage, which is limited by the load current and the capacitance. However, the dynamic response and control stability is satisfactory for EVs applications.

Originality/value

The paper presents a new control to manage the floating capacitor voltages and uses new voltage asymmetries in cascaded multilevel converters.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering, vol. 32 no. 1
Type: Research Article
ISSN: 0332-1649

Keywords

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Book part
Publication date: 8 November 2003

Catherine Newling

The Mexican government has been criticized for its implementation of neo-liberal economic policies that threaten to further impoverish indigenous populations. Given this…

Abstract

The Mexican government has been criticized for its implementation of neo-liberal economic policies that threaten to further impoverish indigenous populations. Given this, it is surprising that in 1997 some members of the Mixe people – one of the poorest indigenous groups in Mexico – condemned the implementation of a new government funding project that was specifically intended to alleviate hardship caused by free trade. The paper argues that objections to both free trade and the new funding program stem from the overarching problem the Mixe face, namely their systematic exclusion from decision-making processes and citizenship at the national level.

Details

Anthropological Perspectives on Economic Development and Integration
Type: Book
ISBN: 978-0-76231-071-5

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