This presentation looks at the cost of collecting the income tax. The IRS overhead itself represents the direct cost to the government in generating this revenue. Beside that there is the burden put on the tax payer in preparing his return, in the case of an audit there may be the cost of representation before a tax court. You also become aware of the vast amount of human resources wasted on this activity for the revenue generated.
Would Rube Goldberg have been able to design a less straightforward system of funding government than the U S Federal income tax? In this presentation, HGS instructor Bob Jene looks at what it costs to collect this revenue. The direct cost to the government of operating the Internal Revenue Service is only a small part, as the burden put on the taxpayer, and the diversion of effort from productive uses, should also be considered.
An injudicious tax offers a great temptation to smuggling. But the penalties of smuggling must rise in proportion to the temptation. The law, contrary to all the ordinary principles of justice, first creates the temptation, and then punishes those who yield to it…
— Adam Smith
Book V of Adam Smith’s classic is entitled “Of the Revenue of the Sovereign or Commonwealth,” includes the above as well as many thoughtful passages about what we nowadays call public finance. Our Political Economy Book Club will discuss this final part of Wealth of Nations on Wednesday, November 12. You can download or read the book on line from several sources, borrow it from many public libraries, or purchase a copy inexpensively.
For further information or to let us know you’re coming, email PEBC coordinator Bob Matter or call 312 450 2906.
In 1831, Alexis de Tocqueville and Gustave de Beaumont were sent by the French government to study the American prison system. In his later letters Tocqueville indicates that he and Beaumont used their official business as a pretext to study American society instead. They arrived in New York City in May of that year and spent nine months traveling the United States, studying the prisons, and collecting information on American society, including its religious, political, and economic character.
Democracy in America was one of the products of this trip. It’s available in several translations, some free such as this one and this one, also free in audio format. On March 29, the Political Economy Book Club will discuss volume 1.
PEBC meetings are free and open to everyone who has read and wishes to talk about the book under discussion. Convenor Bob Matter appreciates an RSVP if possible.
A subsequent meeting will discuss volume 2
Do we need to suffer like this (and/or pay someone else) in order to fund government? In this presentation, HGS instructor Bob Jene looks at what it costs to collect income taxes. The direct cost to the government of operating the Internal Revenue Service is only a small part, as the burden put on the taxpayer, and the diversion of effort from productive uses, should also be considered.
The annual gathering of North American activists and educators promoting economic justice. The date and location are set, but other details will be posted to their site as they are determined.
This presentation has been cancelled. We will let you know when it’s been rescheduled. There will be no presentation February 21, 2019.
The Battle of Lincoln Park tells the story of how people with clashing visions and values fought to determine the path gentrification would take before anyone was using that word. Calling on the power of private funds, public policy, moral appeals, and both nonviolent and violent protest, residents of Old Town and Lincoln Park struggled over the meaning of “desirable” homes, “neighborhood character”, and what kind of city Chicago should be. The outcomes set the tone for profound changes to the city that are still unfolding today.
Acclaimed author Daniel Kay Hertz has written extensively on subjects relating to gentrification, housing, urban demographics, and transportation. This is his first book.
Registration is required for this free event. Building security will print a badge for you to go upstairs. If you plan to come, or are just considering the possibility, please let us know by email events@hgchicago.org or by phoning us at 312 362-9302.
This presentation has been rescheduled and will now take place Thursday, March 7, 2019, at 6:15 pm.
The Battle of Lincoln Park tells the story of how people with clashing visions and values fought to determine the path gentrification would take before anyone was using that word. Calling on the power of private funds, public policy, moral appeals, and both nonviolent and violent protest, residents of Old Town and Lincoln Park struggled over the meaning of “desirable” homes, “neighborhood character”, and what kind of city Chicago should be. The outcomes set the tone for profound changes to the city that are still unfolding today.
Acclaimed author Daniel Kay Hertz has written extensively on subjects relating to gentrification, housing, urban demographics, and transportation. This is his first book.
Registration is required for this free event. Building security will print a badge for you to go upstairs. If you plan to come, or are just considering the possibility, please let us know by email events@hgchicago.org or by phoning us at 312 362-9302.
Decades before Wealth of Nations, Adam Smith wrote what he seems to have considered a superior work, Theory of Moral Sentiments. He wrote:
How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it except the pleasure of seeing it.
Wikipedia asserts:
Smith critically examines the moral thinking of his time, and suggests that conscience arises from dynamic and interactive social relationships through which people seek “mutual sympathy of sentiments.”[74] His goal in writing the work was to explain the source of mankind’s ability to form moral judgement, given that people begin life with no moral sentiments at all. Smith proposes a theory of sympathy, in which the act of observing others and seeing the judgements they form of both others and oneself makes people aware of themselves and how others perceive their behaviour.
The Theory of Moral Sentiments has been printed in numerous editions, and is also available free on line. Smith revised the book throughout his lifetime; it’s best to avoid the first edition, and choose one published after his death in 1790.
In this session we’ll discuss parts 1-3 of the book, taking up parts 4-7 on November 20,
This is the second and concluding session for this book, covering parts 4-7.