Public Finance in Theory regarding Limitations of Securing Resources by Tax System

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  • 税制による財源確保の限界に関する財政学
  • ゼイセイ ニ ヨル ザイゲン カクホ ノ ゲンカイ ニ カンスル ザイセイガク

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It seems that there is no reasonable relationship between tax system and securing financial resources in public sector. National economy would put more pressure on public policy about the risk of private sector, so it could be said that the way of public finance might be independent of public debts. The times are right for establishment of a new equity market while creating jobs and effective demands. The complement system of public bond market, which is composed of NOMAD System and SETS, is a strong possibility for fiscal reconstruction. NOMAD System means the mechanism of Nominated Adviser which is one of the market of initial public offerings by human discretion. There are some specific investors (professional investors) and small and medium enterprises, so this research points out to establish Shijohkankeisha Exchange Trading System; SETS for facilitating specific institutions and SMEs to advance into new public affairs. SETS accepts a method of Local Exchange Trading System; LETS because SMEs also have the authority to issue Sets currency by two-way communication. It will be resolved McMillan Gap. Subdivision allocation for public affairs can at least guarantee fiscal sustainability because SMEs can be funded from SETS and NOMAD System on Equity (Net Assets) in the whole economy.

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