"Arduous."
Let's face it, when it comes to taxes I bet you've never heard someone say "I love paying taxes!" or "I wish taxes were higher!" There is a need for taxes for taxes because otherwise people would probably not pay enough (or think that they needto pay at all) for goods and services that are in reality very much needed.
When it comes to deadweight loss, I think it can be a challenging job for politicians. Deadweight loss occurs when a market distortion (such as a tax) causes a fall in total surplus. When deciding tax policy, the optimal outcome would be minimal reduction in total surplus for the greatest increase in revenue from taxes possible.
Pardon the expression, but this can be a taxing task. With so many different taxes to take into consideration, on different goods/services, in different places, at different times, there seems to be a plethora of outlets by which to increase or decrease taxes and try to find the "magical mix."
This is why I say that considering deadweight loss when it comes to tax policy can surely be arduous. If it wasn't, we wouldn't have politicians arguing about it all......the live-long......day.
That's all for now...
Ciao!
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