by Amonn
[Title Page and Preface]: The title page and preface of Alfred Amonn's work on the principles of financial science. Amonn discusses the difficulties of balancing theory and practice, the scope of the book as a study guide rather than a comprehensive textbook, and the exclusion of 'Fiscal Policy' (Ordnungsfinanz) to focus on purely financial-economic essentials. He emphasizes the importance of tax shifting (Überwälzung) which is often neglected in other works. [Table of Contents]: A detailed table of contents outlining the structure of the book, covering yield taxes (land, building, business, capital, labor), income tax, property tax, inheritance tax, consumption taxes, transaction taxes, public credit, and fiscal equalization between communities. [Classification of Taxes]: Amonn discusses the difficulty of creating a universally accepted tax classification due to the irrational nature of practice. He defends the traditional classification based on tax objects (yield, income, property, consumption, transaction) for pedagogical clarity. He also critiques Fritz Neumark's classification system based on the relationship between the tax object and the ability to pay, questioning the concept of 'objective' ability to pay. [The Nature and Development of Yield Taxes]: Definition and historical overview of yield taxes (Ertragsteuern). Amonn distinguishes between yield taxes as 'object taxes' (focusing on the source of income) and income taxes as 'subject taxes' (focusing on the person). He traces the development from ancient land taxes to the rational yield tax systems of the 19th century, noting how they eventually became supplementary to modern income taxes. [The Land Tax (Grundsteuer)]: A comprehensive analysis of land tax, covering its definition as either a yield or property tax. Amonn details the technical aspects of assessment via the cadastre (Kataster), using the Milanese Cadastre as a historical benchmark. He provides a sophisticated analysis of tax shifting (Überwälzung), arguing that while pure ground rent taxes are not shifted forward, taxes exceeding this rent can impact production costs and prices depending on supply and demand elasticity. [Building Taxes (Gebäudesteuern)]: Examination of building taxes as a combination of land and capital yield taxes. Amonn describes various forms such as the house rent tax (Hauszinssteuer) and area tax. He analyzes the social consequences of tax shifting, noting that building taxes often fall on tenants (especially in low-income housing) due to inelastic demand, making the tax regressive and potentially harmful to housing quality. [Business Taxes (Gewerbesteuern)]: Detailed study of business taxes (Gewerbesteuern) as combined capital and labor yield taxes. Amonn explains the transition from 'patent' fees to modern yield-based assessments. He explores the complexities of assessing business yield using external indicators (location, size, employees) and analyzes the shifting of these taxes onto consumers, which varies based on market competition and monopoly status. Includes a section on special business taxes like those for department stores or itinerant trades. [Capital Yield Tax (Kapitalrentensteuer)]: Analysis of taxes on interest and dividends (Kapitalrentensteuer). Amonn discusses the technical advantages of 'taxation at source' (Abzugsverfahren/Couponsteuer) and the economic risks of capital flight. He examines the impact of the tax on capital formation, arguing that in capital-poor countries, the tax is more likely to be shifted to borrowers through higher interest rates, whereas in capital-rich countries, it tends to stay with the lender. [Labor Yield Taxes (Arbeitsertragssteuern)]: Discussion of taxes on wages, salaries, and professional income. Amonn notes that labor yield taxes often blur the line between yield and income taxes. He evaluates the 'wage tax' (Lohnsteuer) as an efficient collection method and discusses the shifting of labor taxes onto employers when wages are near the subsistence level. He also addresses the specific case of taxing public servants' salaries for the sake of 'budget clarity'. [General Evaluation of Yield Taxes]: Amonn synthesizes the pros and cons of yield taxes. Their main advantage is objectivity and lack of administrative intrusion, but their major flaw is the inability to account for individual ability to pay (Leistungsfähigkeit). He explains why modern democratic societies have moved toward income taxes as the primary fiscal instrument, relegating yield taxes to a supplementary or local role. [The Income Tax: History and Systems]: A historical and comparative analysis of income tax systems. Amonn traces the evolution of the British 'Income Tax' from Pitt's 1799 war tax to the modern system of schedules and 'Supertax'. He compares the British 'objective' approach (taxation at source) with the German 'subjective' approach (comprehensive declaration of total income). The section also covers the spread of income tax to France and the USA, highlighting the different structural philosophies. [Problems of Income Taxation: Subject and Object]: Amonn delves into the theoretical problems of defining the tax subject (individuals vs. corporations) and the tax object (what constitutes 'income'). He discusses the 'trilemma' of corporate taxation, the inclusion of non-periodic gains (lottery, inheritance, speculation), and technical issues like calculating natural income, 'advertising costs' (Werbungskosten), and depreciation (Abschreibungen). [Assessment, Progression, and Shifting of Income Tax]: This section covers the mechanics of income tax assessment, including the subsistence level (Existenzminimum) and family deductions. Amonn provides a lengthy critique of the theory of income tax shifting, engaging with the work of Fritz Neumark. He argues against the dogma that income tax is unshiftable, showing how it can affect labor supply and entrepreneurial prices. He also warns about the negative effects of excessive progression on capital formation and productivity. [Property Taxes (Vermögenssteuern)]: Amonn distinguishes between 'nominal' property taxes (paid from yield) and 'real' property levies (Vermögensabgabe, attacking substance). He details the problems of valuation (market value vs. yield value) for different asset types like land, forests, and securities. The segment concludes with an analysis of the shifting of property taxes, noting that taxes on land are generally unshiftable, while taxes on capital assets follow the logic of capital yield taxes. [Critique of Property Tax Shifting and General Assessment]: The author critiques F. K. Mann's theory of absolute property tax shifting, arguing that market elasticity and producer/consumer roles must be analyzed specifically rather than generally. The section provides a critical assessment of property taxes, noting their historical failure as primary taxes and their modern role as supplementary taxes for 'funded income,' while highlighting the inherent difficulties in uniform valuation and the risk of taxing non-yielding assets. [The Capital Levy (Vermögensabgabe)]: This section defines the 'Vermögensabgabe' (capital levy) as a one-time, extraordinary tax on the substance of wealth rather than its yield. Amonn discusses its impact on capital formation, noting that while it targets existing capital without discouraging future saving (if truly unique), it causes significant liquidity issues and valuation disparities, making it a tool for extreme national emergencies only. [Taxes on Income and Wealth Increments]: Amonn examines taxes on increments of income, wealth, and value, specifically focusing on war profit taxes and real estate capital gains taxes. He critiques the difficulty of distinguishing 'unearned' increments from normal growth and highlights the administrative complexity and low yield that often lead to the failure of these taxes at the national level. [Inheritance and Gift Taxes]: A detailed analysis of inheritance and gift taxes as intermittent wealth taxes. Amonn distinguishes between estate taxes (Nachlaßsteuer) and inheritance share taxes (Erbanfallsteuer), discussing their history from Roman times to modern implementations. He evaluates proposals by Rignano and Mill for progressive taxation based on the number of transfers and argues that these taxes are uniquely non-shiftable, making them highly effective for fiscal control and social equity. [Consumption and Expenditure Taxes: General Principles]: This section introduces the theory of expenditure and consumption taxes, defining them as taxes on the use of income and wealth. Amonn differentiates between direct expenditure taxes (on possession) and indirect consumption taxes (on acquisition/production). He discusses the historical development from medieval city tolls (Oktroi/Akkise) to modern mass consumption taxes, focusing on the mechanics of shifting the tax burden to the final consumer. [Specific Consumption Taxes: Salt, Sugar, and Beverages]: Amonn examines specific taxes on mass-market goods like salt, sugar, beer, wine, and spirits. He notes that while salt and sugar taxes are regressive and function like poll taxes, they are fiscally productive. He discusses the 'Brüsseler Konvention' regarding sugar export premiums and the use of state monopolies (e.g., Branntweinmonopol) to regulate alcohol consumption for public health while securing revenue. [Tobacco, Colonial Products, and Minor Consumption Taxes]: This segment covers taxes on tobacco and colonial goods (coffee, tea, cocoa). Amonn explains the technical advantages of taxing these items via customs duties or manufacturing monopolies. He addresses the problem of smuggling and the balance between high tax rates and net revenue. The section concludes with a brief mention of minor taxes on matches, lighting, and playing cards. [Direct Expenditure Taxes: Housing and Motor Vehicles]: Amonn analyzes direct taxes on expenditure, primarily the rent tax (Mietsteuer) and the motor vehicle tax (Automobilsteuer). He critiques the rent tax for its poor correlation with actual ability to pay and its regressive impact on large families. Conversely, he views the motor vehicle tax positively as it targets a clear indicator of discretionary wealth and serves as a proxy for road usage costs. [Transaction Taxes (Verkehrssteuern)]: This section defines and critiques transaction taxes, including real estate transfer taxes, capital market taxes (stock exchange turnover, emissions, and company formation taxes), and credit transaction taxes (bills of exchange, checks). Amonn, citing Ad. Lampe, argues that these taxes are generally detrimental as they lack a clear link to ability to pay and hinder the efficient movement of capital and goods. [The Turnover Tax (Umsatzsteuer)]: Amonn provides a comprehensive overview of the turnover tax, distinguishing it from transaction taxes by its nature as an indirect consumption tax. He compares different systems: the German all-phase tax, the Austrian phase-lump-sum system (Phasenpauschalierung), and the Swiss wholesaler tax (Grossistensteuer). He discusses the tax's impact on vertical integration, international trade (border adjustments), and its status as a 'fiscal last resort' due to its high yield but poor alignment with equity principles. [Public Credit and National Debt]: The final segment of this chunk introduces the concept of public credit and national debt. Amonn defines public credit not as a unique type of credit, but as credit taken by a public entity. He begins to outline the specific characteristics of public credit, such as the permanence of the state as a debtor and its superior legal position relative to private creditors. [Characteristics and Creditworthiness of Public Debt]: This section examines how the political nature of the state influences its creditworthiness. It discusses the state's power to repudiate debt, the lack of legal recourse for creditors compared to private debt, and how modern states use currency manipulation or inflation to effectively reduce debt burdens, which damages future credit capacity. [Forms of Public Debt: Perpetual Annuities vs. Capital Debt]: Amonn explains the distinction between perpetual annuity debt (Rentenverschuldung) and capital debt (Kapitalverschuldung). He notes that while states historically preferred perpetual interest payments without repayment obligations, modern practice often includes repayment terms to maintain creditworthiness, even though creditors often prefer secure, long-term interest over capital return. [Economic Significance of Credit Financing and Public Debt]: This section categorizes public revenue into ordinary and extraordinary types, placing loans in the latter. It analyzes the economic impact of domestic versus foreign loans on capital supply, interest rates, and the balance of payments. Furthermore, it explores how debt servicing affects income distribution among different social classes depending on the tax system used (e.g., capital vs. consumption taxes). [Productive vs. Unproductive Use of Public Credit]: The author distinguishes between directly productive, indirectly productive (e.g., infrastructure like roads and canals), and socially useful but economically unproductive uses of public credit. He argues that credit used for production increases future revenue, while military or purely social spending may be necessary but does not generate economic returns to service the debt. [Problems and Justification of Public Indebtedness]: Amonn discusses the theoretical evolution regarding the necessity of public loans, particularly in cases of war or urgent emergencies where taxation is insufficient. He evaluates the criteria for debt sustainability, including capital market conditions and the fairness of shifting burdens to future generations, and mentions 'deficit spending' for economic stabilization. [Systematic Classification of Debt in Financial Science]: This segment justifies the treatment of public debt as a distinct fourth part of financial science, as it bridges the gap between revenue and expenditure. It also touches upon the declining importance of managing public assets as a primary source of revenue in modern states. [Types and Forms of Public Loans]: A detailed classification of public loans: voluntary vs. forced loans, productive vs. unproductive (referencing Adam Smith), and domestic vs. foreign debt. It also explains the crucial distinction between funded (long-term) and floating (short-term) debt, including instruments like treasury bills (Schatzwechsel) and treasury notes (Schatzscheine). [Loan Issuance, Conversion, and Consolidation]: This section covers the technical aspects of issuing public debt (subscription vs. bank underwriting) and managing existing debt through consolidation (turning short-term into long-term) and conversion (reducing interest rates when market conditions allow). It also describes specific forms like lottery bonds and annuities. [The Problem of Debt Redemption (Tilgung)]: Amonn analyzes whether and how public debt should be redeemed. He argues that while debt-free status is an ideal, redemption requires resources that could be used elsewhere. He distinguishes between debt for long-term assets (which future generations should help pay for) and war debt, noting that high total debt levels necessitate redemption to preserve future credit capacity and avoid inflation. [Historical Development of Public Credit]: A brief history of public credit, from early loans by wealthy individuals to the mass participation of savers via the stock exchange. It highlights the role of the Bank of England and the modern shift where states act not only as borrowers but also as lenders for political and economic purposes. [Fiscal Equalization (Finanzausgleich) in Federal Systems]: This section defines fiscal equalization (Finanzausgleich) as the coordination of financial duties and revenues between different levels of government (federal, state, municipal). Amonn discusses the tensions between federal and state tax sovereignty, arguing that while the federal government needs the income tax for its rising burdens, states must remain financially autonomous through surcharges (Zuschlagssystem) or revenue sharing. [Burden Sharing and Municipal Finance]: The author explains 'Lastenausgleich' (burden sharing) as a mechanism to balance varying financial capacities and needs among equal-level entities. He then details the specifics of municipal finance, including local fees, property taxes, and the unique challenges of municipal credit, which often requires state supervision and specialized credit institutions. [Subject Index (Sachwörterverzeichnis)]: A comprehensive alphabetical subject index for the work, covering terms from 'Abatments' to 'Zwiefachbesteuerung', including various tax types, loan forms, and financial principles discussed throughout the text.
The title page and preface of Alfred Amonn's work on the principles of financial science. Amonn discusses the difficulties of balancing theory and practice, the scope of the book as a study guide rather than a comprehensive textbook, and the exclusion of 'Fiscal Policy' (Ordnungsfinanz) to focus on purely financial-economic essentials. He emphasizes the importance of tax shifting (Überwälzung) which is often neglected in other works.
Read full textA detailed table of contents outlining the structure of the book, covering yield taxes (land, building, business, capital, labor), income tax, property tax, inheritance tax, consumption taxes, transaction taxes, public credit, and fiscal equalization between communities.
Read full textAmonn discusses the difficulty of creating a universally accepted tax classification due to the irrational nature of practice. He defends the traditional classification based on tax objects (yield, income, property, consumption, transaction) for pedagogical clarity. He also critiques Fritz Neumark's classification system based on the relationship between the tax object and the ability to pay, questioning the concept of 'objective' ability to pay.
Read full textDefinition and historical overview of yield taxes (Ertragsteuern). Amonn distinguishes between yield taxes as 'object taxes' (focusing on the source of income) and income taxes as 'subject taxes' (focusing on the person). He traces the development from ancient land taxes to the rational yield tax systems of the 19th century, noting how they eventually became supplementary to modern income taxes.
Read full textA comprehensive analysis of land tax, covering its definition as either a yield or property tax. Amonn details the technical aspects of assessment via the cadastre (Kataster), using the Milanese Cadastre as a historical benchmark. He provides a sophisticated analysis of tax shifting (Überwälzung), arguing that while pure ground rent taxes are not shifted forward, taxes exceeding this rent can impact production costs and prices depending on supply and demand elasticity.
Read full textExamination of building taxes as a combination of land and capital yield taxes. Amonn describes various forms such as the house rent tax (Hauszinssteuer) and area tax. He analyzes the social consequences of tax shifting, noting that building taxes often fall on tenants (especially in low-income housing) due to inelastic demand, making the tax regressive and potentially harmful to housing quality.
Read full textDetailed study of business taxes (Gewerbesteuern) as combined capital and labor yield taxes. Amonn explains the transition from 'patent' fees to modern yield-based assessments. He explores the complexities of assessing business yield using external indicators (location, size, employees) and analyzes the shifting of these taxes onto consumers, which varies based on market competition and monopoly status. Includes a section on special business taxes like those for department stores or itinerant trades.
Read full textAnalysis of taxes on interest and dividends (Kapitalrentensteuer). Amonn discusses the technical advantages of 'taxation at source' (Abzugsverfahren/Couponsteuer) and the economic risks of capital flight. He examines the impact of the tax on capital formation, arguing that in capital-poor countries, the tax is more likely to be shifted to borrowers through higher interest rates, whereas in capital-rich countries, it tends to stay with the lender.
Read full textDiscussion of taxes on wages, salaries, and professional income. Amonn notes that labor yield taxes often blur the line between yield and income taxes. He evaluates the 'wage tax' (Lohnsteuer) as an efficient collection method and discusses the shifting of labor taxes onto employers when wages are near the subsistence level. He also addresses the specific case of taxing public servants' salaries for the sake of 'budget clarity'.
Read full textAmonn synthesizes the pros and cons of yield taxes. Their main advantage is objectivity and lack of administrative intrusion, but their major flaw is the inability to account for individual ability to pay (Leistungsfähigkeit). He explains why modern democratic societies have moved toward income taxes as the primary fiscal instrument, relegating yield taxes to a supplementary or local role.
Read full textA historical and comparative analysis of income tax systems. Amonn traces the evolution of the British 'Income Tax' from Pitt's 1799 war tax to the modern system of schedules and 'Supertax'. He compares the British 'objective' approach (taxation at source) with the German 'subjective' approach (comprehensive declaration of total income). The section also covers the spread of income tax to France and the USA, highlighting the different structural philosophies.
Read full textAmonn delves into the theoretical problems of defining the tax subject (individuals vs. corporations) and the tax object (what constitutes 'income'). He discusses the 'trilemma' of corporate taxation, the inclusion of non-periodic gains (lottery, inheritance, speculation), and technical issues like calculating natural income, 'advertising costs' (Werbungskosten), and depreciation (Abschreibungen).
Read full textThis section covers the mechanics of income tax assessment, including the subsistence level (Existenzminimum) and family deductions. Amonn provides a lengthy critique of the theory of income tax shifting, engaging with the work of Fritz Neumark. He argues against the dogma that income tax is unshiftable, showing how it can affect labor supply and entrepreneurial prices. He also warns about the negative effects of excessive progression on capital formation and productivity.
Read full textAmonn distinguishes between 'nominal' property taxes (paid from yield) and 'real' property levies (Vermögensabgabe, attacking substance). He details the problems of valuation (market value vs. yield value) for different asset types like land, forests, and securities. The segment concludes with an analysis of the shifting of property taxes, noting that taxes on land are generally unshiftable, while taxes on capital assets follow the logic of capital yield taxes.
Read full textThe author critiques F. K. Mann's theory of absolute property tax shifting, arguing that market elasticity and producer/consumer roles must be analyzed specifically rather than generally. The section provides a critical assessment of property taxes, noting their historical failure as primary taxes and their modern role as supplementary taxes for 'funded income,' while highlighting the inherent difficulties in uniform valuation and the risk of taxing non-yielding assets.
Read full textThis section defines the 'Vermögensabgabe' (capital levy) as a one-time, extraordinary tax on the substance of wealth rather than its yield. Amonn discusses its impact on capital formation, noting that while it targets existing capital without discouraging future saving (if truly unique), it causes significant liquidity issues and valuation disparities, making it a tool for extreme national emergencies only.
Read full textAmonn examines taxes on increments of income, wealth, and value, specifically focusing on war profit taxes and real estate capital gains taxes. He critiques the difficulty of distinguishing 'unearned' increments from normal growth and highlights the administrative complexity and low yield that often lead to the failure of these taxes at the national level.
Read full textA detailed analysis of inheritance and gift taxes as intermittent wealth taxes. Amonn distinguishes between estate taxes (Nachlaßsteuer) and inheritance share taxes (Erbanfallsteuer), discussing their history from Roman times to modern implementations. He evaluates proposals by Rignano and Mill for progressive taxation based on the number of transfers and argues that these taxes are uniquely non-shiftable, making them highly effective for fiscal control and social equity.
Read full textThis section introduces the theory of expenditure and consumption taxes, defining them as taxes on the use of income and wealth. Amonn differentiates between direct expenditure taxes (on possession) and indirect consumption taxes (on acquisition/production). He discusses the historical development from medieval city tolls (Oktroi/Akkise) to modern mass consumption taxes, focusing on the mechanics of shifting the tax burden to the final consumer.
Read full textAmonn examines specific taxes on mass-market goods like salt, sugar, beer, wine, and spirits. He notes that while salt and sugar taxes are regressive and function like poll taxes, they are fiscally productive. He discusses the 'Brüsseler Konvention' regarding sugar export premiums and the use of state monopolies (e.g., Branntweinmonopol) to regulate alcohol consumption for public health while securing revenue.
Read full textThis segment covers taxes on tobacco and colonial goods (coffee, tea, cocoa). Amonn explains the technical advantages of taxing these items via customs duties or manufacturing monopolies. He addresses the problem of smuggling and the balance between high tax rates and net revenue. The section concludes with a brief mention of minor taxes on matches, lighting, and playing cards.
Read full textAmonn analyzes direct taxes on expenditure, primarily the rent tax (Mietsteuer) and the motor vehicle tax (Automobilsteuer). He critiques the rent tax for its poor correlation with actual ability to pay and its regressive impact on large families. Conversely, he views the motor vehicle tax positively as it targets a clear indicator of discretionary wealth and serves as a proxy for road usage costs.
Read full textThis section defines and critiques transaction taxes, including real estate transfer taxes, capital market taxes (stock exchange turnover, emissions, and company formation taxes), and credit transaction taxes (bills of exchange, checks). Amonn, citing Ad. Lampe, argues that these taxes are generally detrimental as they lack a clear link to ability to pay and hinder the efficient movement of capital and goods.
Read full textAmonn provides a comprehensive overview of the turnover tax, distinguishing it from transaction taxes by its nature as an indirect consumption tax. He compares different systems: the German all-phase tax, the Austrian phase-lump-sum system (Phasenpauschalierung), and the Swiss wholesaler tax (Grossistensteuer). He discusses the tax's impact on vertical integration, international trade (border adjustments), and its status as a 'fiscal last resort' due to its high yield but poor alignment with equity principles.
Read full textThe final segment of this chunk introduces the concept of public credit and national debt. Amonn defines public credit not as a unique type of credit, but as credit taken by a public entity. He begins to outline the specific characteristics of public credit, such as the permanence of the state as a debtor and its superior legal position relative to private creditors.
Read full textThis section examines how the political nature of the state influences its creditworthiness. It discusses the state's power to repudiate debt, the lack of legal recourse for creditors compared to private debt, and how modern states use currency manipulation or inflation to effectively reduce debt burdens, which damages future credit capacity.
Read full textAmonn explains the distinction between perpetual annuity debt (Rentenverschuldung) and capital debt (Kapitalverschuldung). He notes that while states historically preferred perpetual interest payments without repayment obligations, modern practice often includes repayment terms to maintain creditworthiness, even though creditors often prefer secure, long-term interest over capital return.
Read full textThis section categorizes public revenue into ordinary and extraordinary types, placing loans in the latter. It analyzes the economic impact of domestic versus foreign loans on capital supply, interest rates, and the balance of payments. Furthermore, it explores how debt servicing affects income distribution among different social classes depending on the tax system used (e.g., capital vs. consumption taxes).
Read full textThe author distinguishes between directly productive, indirectly productive (e.g., infrastructure like roads and canals), and socially useful but economically unproductive uses of public credit. He argues that credit used for production increases future revenue, while military or purely social spending may be necessary but does not generate economic returns to service the debt.
Read full textAmonn discusses the theoretical evolution regarding the necessity of public loans, particularly in cases of war or urgent emergencies where taxation is insufficient. He evaluates the criteria for debt sustainability, including capital market conditions and the fairness of shifting burdens to future generations, and mentions 'deficit spending' for economic stabilization.
Read full textThis segment justifies the treatment of public debt as a distinct fourth part of financial science, as it bridges the gap between revenue and expenditure. It also touches upon the declining importance of managing public assets as a primary source of revenue in modern states.
Read full textA detailed classification of public loans: voluntary vs. forced loans, productive vs. unproductive (referencing Adam Smith), and domestic vs. foreign debt. It also explains the crucial distinction between funded (long-term) and floating (short-term) debt, including instruments like treasury bills (Schatzwechsel) and treasury notes (Schatzscheine).
Read full textThis section covers the technical aspects of issuing public debt (subscription vs. bank underwriting) and managing existing debt through consolidation (turning short-term into long-term) and conversion (reducing interest rates when market conditions allow). It also describes specific forms like lottery bonds and annuities.
Read full textAmonn analyzes whether and how public debt should be redeemed. He argues that while debt-free status is an ideal, redemption requires resources that could be used elsewhere. He distinguishes between debt for long-term assets (which future generations should help pay for) and war debt, noting that high total debt levels necessitate redemption to preserve future credit capacity and avoid inflation.
Read full textA brief history of public credit, from early loans by wealthy individuals to the mass participation of savers via the stock exchange. It highlights the role of the Bank of England and the modern shift where states act not only as borrowers but also as lenders for political and economic purposes.
Read full textThis section defines fiscal equalization (Finanzausgleich) as the coordination of financial duties and revenues between different levels of government (federal, state, municipal). Amonn discusses the tensions between federal and state tax sovereignty, arguing that while the federal government needs the income tax for its rising burdens, states must remain financially autonomous through surcharges (Zuschlagssystem) or revenue sharing.
Read full textThe author explains 'Lastenausgleich' (burden sharing) as a mechanism to balance varying financial capacities and needs among equal-level entities. He then details the specifics of municipal finance, including local fees, property taxes, and the unique challenges of municipal credit, which often requires state supervision and specialized credit institutions.
Read full textA comprehensive alphabetical subject index for the work, covering terms from 'Abatments' to 'Zwiefachbesteuerung', including various tax types, loan forms, and financial principles discussed throughout the text.
Read full text