Week 3 Taxation History & Objectives Questions

Question Description

Part 1

Discussion Topic: Taxation – History and Objectives

Taxation in the United States has changed drastically since its founding. Originally the federal government, much smaller than the one today, was financed with tariffs and internal taxes on a few items such as alcohol. The individual states were primarily financed with property taxes. Today tariffs are relatively small and most federal revenue comes from personal income taxes, payroll taxes, and corporate income taxes. In what country and during what time period do you believe the “best” form of taxation existed?

Part 2

Momentum is an anomaly that gives those subscribing in efficient markets the most trouble.

What is Momentum in stock prices?

Why is this a problem for the efficient market hypothesis?

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