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M <br />Understanding Tax Equity <br />• Benefits Principle —pay taxes commensurate with the benefits <br />received <br />• Ability -to -pay principle— higher income household can afford to pay <br />more in taxes, so they should <br />• Consider two households, Poor and Rich, with incomes of $25,000 <br />and $150,000 <br />• Local government provides one good, local education, which costs <br />$7,000 per student per year <br />CCM Economics, LLC OC Tax Equity Study <br />